In the recent decade, going to the university as a way to get a better paying job has changed from a road to a brighter future to a one way street into the debt swamp. Students face up to their necks debt to attend a decent college hoping for a better job and ambitious career. Up till now, students in the US are loaned up to 1 trillion dollars to attend a university. That is certainly concerning for the minds of the future.
The Federal Reserve Bank of New York estimates that 44 percent of college graduates are underemployed, taking jobs that don’t require their degree. The student debt slippery slope into oblivion actually has a maleficent impact on the whole economy, especially the housing market. Adding the effect of the recent recession, the young population is still nervous about taking up their economic and social role in the circle of life.