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Broke and Jobless: 85% of College Grads Moving Home

Cold Highway

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For college grads, it gets even worse. Not only can they not find a job, but they are putting financial pressure on their parents, who will now have to continue providing a home, food, and utilities until such time that their boomerang kid can get some meaningful work and contribute financially to the household. On top of that, they are debt laden with an average debt of over $23,000 once they graduate college. Considering that up until the recession, the average graduate made just $30,000 per year in an entry level position, and the fact that those types of jobs are no few and far between, we can see the potential for a new round of debt-defaults in the near future.
Isnt that a kick in the pants. Thanks warmongers and socialists, thanks-a****ing-lot!

Broke and Jobless: 85% of College Grads Moving Home by Mac Slavo
 

Kandahar

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Actually they can't default, so there won't be a new round of debt-defaults. Those loans are with them forever, even if they declare bankruptcy.

I agree with the article about the education bubble though. University tuition (especially private schools, but public schools too) is RIDICULOUSLY overpriced. I also foresee the prices crashing down by at least 50% in the next few years. Those of us in our mid to late 20s picked a bad time to go to school, in terms of tuition costs. :(
 
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