Some 62 percent of the grads from U.S. public universities emerge with both a diploma and debt, according to figures compiled by the federal Department of Education’s Project on Student Debt. About 72 percent of grads from private nonprofit universities owe money. An astounding 96 percent of the kids who attend for-profit schools venture out into the real world as debtors. The study was conducted in 2008. It’s only gotten worse amid a recession and slow, slow recovery, as state legislatures hack away at higher education allocations. The problem comes when this unpaid trillion dollars (outstanding college loans now exceed the nation’s credit-card debt) is juxtaposed against a brutal job market. Half the nation’s college students under age 25 are still looking for fulltime work, according to a disheartening recent study out of Rutgers University.
http://www.miamiherald.com/2012/05/26/2818547/college-loans-are-next-debt-crisis.html
