Student loans

Buried!

Posted By thestatedtruth.com on September 18, 2011

We have literally buried our young college students with a debt burden that will change their lives for decades. But nobody’s paying attention as the colleges need every penny they can get. Looking at the chart below, it’s shocking to see that student debt has almost quadrupled in less then three years! Shocking!
The unemployment rate for people aged between 20 to 24 years was 24.5% in August, up from 23.1% in July. The unemployment rate for this population range averaged 15% from 2002 through the end of 2007. However, as the labor market continued to struggle, the unemployment rate for persons between 20 and 24 years of age rose to 25.7% in November 2009 and has remained elevated over the past two years. Not to mention that the unemployment rate for the civilian labor force has been above 9% since May 2009. Additionally we suspect the increased cost of tuition is forcing students to take out larger loans in order to pay for rising education costs.