By Sarita Olson, LCSW-C, Team Manager, Service Coordination
College students who are graduating and transitioning into the work world find this is an exciting yet apprehensive time. Your financial picture will most likely change once you graduate—depending on your financial obligations and individual situation.
“A Generation Hobbled by the Soaring Cost of College,” (New York Times, May 12) noted that 94% of students who earn a bachelor’s degree today borrow to pay for higher education—up from 45% in 1993…. The average debt in 2011 was $23,300 … and “nearly one in 10 borrowers who started repayment in 2009 defaulted within two years.”
If you are a college student in your twenties, figuring out how to pay off your loans, while also meeting your living expenses, can be overwhelming.
The financial effects of decisions made now will last into your thirties and forties...Read more...