The Walking Debt: The Student Loan Problem

Most young people recognize the need for a college education. Almost 80 percent of them agree that college is more important for them than it was for their parents. Current estimates add between 25 and almost 100 percent to the amount a college graduate earns over their lifetime when compared to the earnings of a high school graduate. But as of 2010, the unemployment rate for college graduates reached an all-time high of 9.1 percent.

College loan debt has also soared to alarming highs. Graduates now owe an average of almost $23,000 in student loans upon the completion of university. This translates to an average of $263 per month in student loan payments.

Pell Grants do not need to be repaid and offer low-income students up to $5,500 in money toward school. Almost 90 percent of young people believe assistance with financial aid toward college helps them personally as well as the economy.

From: Top Colleges Online

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