As someone who is a product of the university and student loan system for many years of my professional college career, I understand the issues facing former students who hold student loan debt obligations to the various private world banking institutions and corporate entities. When Student X walks across the stage at Alma Mater U. with his $200,000+ degree, many times he/she is walking away with an equal amount of debt owed to ABC Bank.
In better times, students were better able to secure employment upon graduation, so making student loan payments was much easier for the mid-20s corporate paper pusher with a steady paycheck with benefits. Those jobs do not exist anymore and/or pay much less. College graduates are feeling the biggest effects and the biggest unemployment rate ever on record at 16.8.
I have yet to see to the above delinquency map on any other site, so I will give props to MyBudget360 for producing it. You can read the full article on its site by clicking below.
Whether you go to college or not, you will need to develop skills where you are able to create valuable tangible goods or provide services in your specific areas of interest. Simply going to college and amassing large debts is often not the best option. Mechanics, electricians, computer repair specialist and plumbers who own their businesses can make comparable, if not, better salaries than their professional counterparts who often have to repay hundreds of thousands of dollars in student loan debt over thirty (30) years.
If you have a valuable or possess a skill that very few people have, then you will always be indispensable in any environment. And if you happen to really enjoy using this skill, then the sky is the limit for you and your family.
In better times, students were better able to secure employment upon graduation, so making student loan payments was much easier for the mid-20s corporate paper pusher with a steady paycheck with benefits. Those jobs do not exist anymore and/or pay much less. College graduates are feeling the biggest effects and the biggest unemployment rate ever on record at 16.8.
I have yet to see to the above delinquency map on any other site, so I will give props to MyBudget360 for producing it. You can read the full article on its site by clicking below.
With the recent unemployment rate hitting 9.7 percent officially, the wider ranging U-6 rate hit a record of 16.8 percent. The market took the 216,000 job losses as good news but the recession is much deeper than the headlines are showing. If you dig deep into the report, you will find a few curious observations. First, the teenage unemployment rate is the highest in nearly half a century coming in at over 24.2 percent. Now this rate is always high but only in August of 2008, it was at 17.8 percent. Another observation in the report that we find is those with college degrees are facing the highest unemployment in two decades since records started being kept.
Whether you go to college or not, you will need to develop skills where you are able to create valuable tangible goods or provide services in your specific areas of interest. Simply going to college and amassing large debts is often not the best option. Mechanics, electricians, computer repair specialist and plumbers who own their businesses can make comparable, if not, better salaries than their professional counterparts who often have to repay hundreds of thousands of dollars in student loan debt over thirty (30) years.
If you have a valuable or possess a skill that very few people have, then you will always be indispensable in any environment. And if you happen to really enjoy using this skill, then the sky is the limit for you and your family.
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