What percentage of students graduate with loan debt?
A) 25% B) 45% C) 75% D) 100%
The answer is, C. While it could be argued that closer to 100% graduate these days with loan debt, there are still many people that qualify for grants or fund their college through scholarships. In either case, 75% is too many and goes to show the crisis we are in over higher education.
How much student loan debt does the average graduate owe?
A) $7500 B) $10,000 C) $20,000 D) $25,000
The answer is, D. 72% of student loan debt borrowers owe $25,000. 16% owe over $50,000, and 6% owe over $75,000 in student loans! No matter how you slice it, those figures are frightening. Not only will borrowers be paying on these loan amounts for the better part of their adult lives, but the average monthly payment will take upwards of $200 a month or more from their disposable income.
What percentage of graduates get a job right out of college?
A) 25% B) 50% C) 75% D) 100%
The answer is, C. It may not sound all that bad with two-thirds of graduates securing a job right after college. However, what is missing from these estimates is the fact that only 25% of those working are actually employed in their degree field. Many graduates are forced to take jobs outside of their degree and education plans for the purposes of paying bills. So, between a quarter of graduates unemployed, many making far less than anticipated or needed, and many compromising their passions for a paycheck, that hefty monthly student loan payment can be a hard pill to swallow.
How much money does the average graduate make?
A) $30,000 B)$40,000 C) $50,000 D) $60,000
The answer is, C. There is a bit of flexibility in this estimate depending on what city you live in, and what job you are doing. However, it is safe to say that the average college graduate makes $50,000 a year or more; compared to $30,000 for someone with only a high school diploma. Now before you go thinking the costs of college outweigh the benefits of a college degree, think again. Yes college graduates have more debt than those who don’t attend college, but they also earn 35% more than a high school graduate and are more likely to have health benefits and a retirement fund they can rely on. The point isn’t to skip college, but it is to skip the loans whenever possible and find alternative ways to fund your degree