Starting Salaries lose to Student Debt
Mon 29 Oct 2007 – 10.06
In a moment of sober obviousness, I present recent findings about how student debt has blown up so massively that starting salaries can no longer keep up. Or the other way ’round, depending on your point of view. As a twentysomething with loads of student debt (approximately my current annual salary’s worth), this is an issue that hits home.
Have a read of the article on Education Portal. Most of the depressing data comes from a study by Project on Student Debt.
Between 2005 and 2006, average student loan debt increased 8 percent. In comparison, staring salaries increased by only 4 percent. The worry is that it will become more difficult for graduates to manage debt and pay it off in a timely fashion.
posted by Scott in careers, personal finance.