Job markets continue to become more and more globally connected. College students today need to be aware that not only do they need to compete with job seekers locally but internationally as well. Thanks to technology we are becoming more and more connected with one another and companies located in one country can easily manage employees in a country thousands of miles away. Many college students choose to attend higher education because that can be that thing makes them stand out from other applicants. However, that edge over the competition can come at a high price.
The average American student loan debt in 2012 was about $26,000 and that does not take into account those that attended grad school. While college graduates still statistically earn more than those without a college degree, grads also have more debt because of student loans. As college costs continue to rise every year and alternative forms of financial aid such as grants and scholarships continue to see their funding reduced, many students are forced to apply for student loans to help them pay for their college expenses.
Even though a college degree can ensure you more job security than those without a college degree, students should take the time to research just how much their education will truly cost them. To learn more about the history of student loan debt through the years take a look at this infographic by Consolidated Credit. Education is a huge investment and can often turn into a financial burden students do not plan their budgets carefully and practice smart spending.
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