What if your studies turn out to not qualify you for a job that could actually pay you enough to pay off your loans? The following describes the dire situation many college grads are currently facing.
Time Ideas posted this great article: I Don’t Have Student Loans and I don’t Feel Bad for People That Do
Here’s what I learned:
- Over $1 trillion in outstanding student loans, that is just under 6% of US annual GDP
- The average college Grad owes $29,400 in student loan debt upon graduating. Note to reader- Half owe more. WAY More.
- College is unaffordable if your major won’t offer you sufficient ROI (return on Investment) to pay back your loans.
There is an alternative to creating an debt hole from which you might never recover.
The alternative? Get a skill (like precision machining) and earn as you learn, and let your employer assist with the college expenses. No debt. Great career. Increased quality of life. For info on careers in Precision Machining
PMPA is a founding member and supporter of NIMS, which is offering on the job training incentives in certain states
Photo courtesy Heartland