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The kids are coming home to roost.
Surprise, surprise: Thanks to a high unemployment rate for new grads, many of those with diplomas fresh off the press are making a return to Mom and Dad's place. In fact, according to a poll conducted by consulting firm Twentysomething Inc., some 85% of graduates will soon remember what Mom's cooking tastes like.
PHOTOS: See the evolution of the college dorm
Times are undeniably tough. Reports have placed the unemployment rate for the under-25 group as high as 54%. Many of these unemployed graduates are choosing to go into higher education in an attempt to wait out the job market, while others are going anywhere and doing anything for work. Meanwhile, moving back home helps with expenses and paying off student loans.
The outlook isn't sunshine and roses: Rick Raymond, of the College Parents of America, notes, "Graduates are not the first to be hired when the job markets begins to improve. We're seeing shocking numbers of people with undergraduates degrees who can't get work."
Massive debt, no jobs, high cost of housing
What other choice is there?
Entry level jobs pay shit
Study: 85% of College Grads Move Home to Live with Parents - TIME NewsFeed
The kids are coming home to roost.
Surprise, surprise: Thanks to a high unemployment rate for new grads, many of those with diplomas fresh off the press are making a return to Mom and Dad's place. In fact, according to a poll conducted by consulting firm Twentysomething Inc., some 85% of graduates will soon remember what Mom's cooking tastes like.
PHOTOS: See the evolution of the college dorm
Times are undeniably tough. Reports have placed the unemployment rate for the under-25 group as high as 54%. Many of these unemployed graduates are choosing to go into higher education in an attempt to wait out the job market, while others are going anywhere and doing anything for work. Meanwhile, moving back home helps with expenses and paying off student loans.
The outlook isn't sunshine and roses: Rick Raymond, of the College Parents of America, notes, "Graduates are not the first to be hired when the job markets begins to improve. We're seeing shocking numbers of people with undergraduates degrees who can't get work."
Brace yourself, folks. It's going to get a whole lot worse.
Massive debt, no jobs, high cost of housing
What other choice is there?
Entry level jobs pay shit
Massive debt, no jobs, high cost of housing
What other choice is there?
Entry level jobs pay shit
If the professors did their job instead of just hiking tuition into the stratosphere these graduates would not need to start at entry level or have such massive debts. As far as housing goes that is getting cheaper every day as long as the government keeps their fingers out of it. Government touched housing & turned it to shit. Now they have done the same with the higher education system.
My buddy is 29 years old, with a Master's Degree, and he is still living with his parents. His younger brother who is 27 just moved out of their house about a year ago.
Massive debt, no jobs, high cost of housing
What other choice is there?
Entry level jobs pay shit
If the professors did their job instead of just hiking tuition into the stratosphere these graduates would not need to start at entry level or have such massive debts. As far as housing goes that is getting cheaper every day as long as the government keeps their fingers out of it. Government touched housing & turned it to shit. Now they have done the same with the higher education system.
I fail to see why college costs have escalated so much. Most majors involve instruction of 30-100 students. Professors do not make that much
Charging $125,000 for a degree that will pay you $40,000 a year is idiocy
Massive debt, no jobs, high cost of housing
What other choice is there?
Entry level jobs pay shit
If the professors did their job instead of just hiking tuition into the stratosphere these graduates would not need to start at entry level or have such massive debts. As far as housing goes that is getting cheaper every day as long as the government keeps their fingers out of it. Government touched housing & turned it to shit. Now they have done the same with the higher education system.
I fail to see why college costs have escalated so much. Most majors involve instruction of 30-100 students. Professors do not make that much
Charging $125,000 for a degree that will pay you $40,000 a year is idiocy
If the professors did their job instead of just hiking tuition into the stratosphere these graduates would not need to start at entry level or have such massive debts. As far as housing goes that is getting cheaper every day as long as the government keeps their fingers out of it. Government touched housing & turned it to shit. Now they have done the same with the higher education system.
I fail to see why college costs have escalated so much. Most majors involve instruction of 30-100 students. Professors do not make that much
Charging $125,000 for a degree that will pay you $40,000 a year is idiocy
Colleges jack up tuition rates to match the amount of government backed student loans. Just like when government backed home mortgages it drove house prices through the roof faster than earnings or inflation. Now college tuition rates are climbing at twice the rate of inflation & wages because government is handing out way to much student loan money.
If the professors did their job instead of just hiking tuition into the stratosphere these graduates would not need to start at entry level or have such massive debts. As far as housing goes that is getting cheaper every day as long as the government keeps their fingers out of it. Government touched housing & turned it to shit. Now they have done the same with the higher education system.
I fail to see why college costs have escalated so much. Most majors involve instruction of 30-100 students. Professors do not make that much
Charging $125,000 for a degree that will pay you $40,000 a year is idiocy
Colleges jack up tuition rates to match the amount of government backed student loans. Just like when government backed home mortgages it drove house prices through the roof faster than earnings or inflation. Now college tuition rates are climbing at twice the rate of inflation & wages because government is handing out way to much student loan money.
College costs that are rising at twice the rate of inflation, CNBC investigates a system that encourages widespread borrowing—often with little regard to a student's ability to pay, leaving the average college graduate with tens of thousands of dollars in student-loan debt. How long can the system be sustained? Are student loans the next subprime mortgages? And if the bubble bursts, who will pay the price?
For each student who defaults on a loan, at least two more fall behind in payments on their student debt, a new study has found.
The Institute for Higher Education Policy, a nonprofit organization, said in a report that two out of five student loan borrowers were delinquent at some point in the first five years after they started repaying their loans.
Almost a quarter of the borrowers used an option to postpone payments to avoid delinquency.
“We want to get beyond the dichotomy of people who default on their loans and everyone else,” Alisa Cunningham, The study, based on data from five of the nation’s largest student-loan agencies, found that only 37 percent of student borrowers who started repaying their loans in 2005 were able to fully pay them back on time.
And that percentage is probably decreasing, given the high unemployment rate of recent years, Ms. Cunningham said.
With tuition rising more rapidly than inflation or family incomes, student borrowing has been growing. College seniors who graduated in 2009 had an average of $24,000 in student loan debt, up 6 percent from 2008, according to an annual report from the Project on Student Debt.
Mark Kantrowitz, the publisher of Finaid.org and Fastweb.com, estimates total student debt at about $896 billion — more than the nation’s credit-card debt.
Meanwhile, default rates have been rising, to 7 percent, for the 2008 fiscal year, the latest period for which data is available, from 5.2 percent in the 2006 fiscal year. Students who did not graduate were more likely to become deliquent or default.
According to the new study, the majority of student borrowers at both two- and four-year for-profit schools went into deliquency or default. The majority of student borrowers at community colleges also went into delinquency or default. But because community college tuition is far lower than that of for-profit institutions, most community-college students do not take out loans.
Would you invest 125 grand in a business proven to pay you 40 grand a year ?Massive debt, no jobs, high cost of housing
What other choice is there?
Entry level jobs pay shit
If the professors did their job instead of just hiking tuition into the stratosphere these graduates would not need to start at entry level or have such massive debts. As far as housing goes that is getting cheaper every day as long as the government keeps their fingers out of it. Government touched housing & turned it to shit. Now they have done the same with the higher education system.
I fail to see why college costs have escalated so much. Most majors involve instruction of 30-100 students. Professors do not make that much
Charging $125,000 for a degree that will pay you $40,000 a year is idiocy
Would you invest 125 grand in a business proven to pay you 40 grand a year ?If the professors did their job instead of just hiking tuition into the stratosphere these graduates would not need to start at entry level or have such massive debts. As far as housing goes that is getting cheaper every day as long as the government keeps their fingers out of it. Government touched housing & turned it to shit. Now they have done the same with the higher education system.
I fail to see why college costs have escalated so much. Most majors involve instruction of 30-100 students. Professors do not make that much
Charging $125,000 for a degree that will pay you $40,000 a year is idiocy
I damn sure would.
A Master's Degree in Bible memorization doesn't really help. You need engineering, computer science (oops, did I just say "science"?) or some field that actually produces something.
Of course, engineering and science degrees are "really hard".
What degree do you have?A Master's Degree in Bible memorization doesn't really help. You need engineering, computer science (oops, did I just say "science"?) or some field that actually produces something.
Of course, engineering and science degrees are "really hard".
Would you invest 125 grand in a business proven to pay you 40 grand a year ?I fail to see why college costs have escalated so much. Most majors involve instruction of 30-100 students. Professors do not make that much
Charging $125,000 for a degree that will pay you $40,000 a year is idiocy
I damn sure would.
Three words you will never hear a single Republican leader say out loud:
Supply
Demand
Invest
