Still the continuing saga of the fresh graduate. The recession has definitely changed the game with many questioning the real value of college education. A number of college students rely on student loans in order to make it through and that means being debt-ridden even before earning a degree.
With the dismal situation of the job market, many fresh graduates are struggling to find jobs and if they ever do, the pay’s less than what graduates make last year. The average starting pay for bachelor’s degree holders is $48,633 – a drop of 1.2% last year and 7.6% lower than 2007 graduates.
Engineering and computer degrees remain to be the money-making degrees while bachelor of arts degree holders suffered from another pay drop.
The lower starting pays means that for those who have incurred much debt from student loans, it will take them a longer time to pay them off. It’s a sticky situation fresh graduates are in – in limbo between real world responsibilities and the ghosts of student loans.
Source: WSJ
