Is debt still worth a degree?

Is Debt still worth a degree? The Bureau of Labor and Statistics reports College Graduates are twice as likely to find employment vs. Individuals who only have a high school diploma. In a 2007 Study by the College Board showed: Those who earned a Bachelor's degree earn over 60% more money compared those with only a High School diploma. 60% High School College Grade Grade The life time earnings gap between High School grades and College grades is over $800,000! The unemployment rate for those with a college degree is HALF the national average, about 4.1%. But.. at what cost? = 2$ In March of 2012 Student loans exceeded $1 TRILLION DOLLARS, with $864 billion in Federal loans and $150 billion in private loans. According to the Project on Student Debt, the average total of student debt for 4 year graduates is $24k, but in the some states ranges as high as $30k. Top 10 States with the Highest Student Loan Debt Washington, DC - $30,000/average per student New Hampshire - $29,443/average per student Malne - $29,143/average per student lowa - $28,883/average per student Vermont - $27,786/average per student Minnesota - $27,467/average per student Pennsylvania - $25,066/average per student Rhode Island - $26,573/average per student Alaska - $26,344/average per student Ohlo - $25,842/average per student The price of a college education has increased over 1000% in the last 3 decades. Student loan debt has gone up 300% in just the past 8 years alone! 37 Million Americans have federal or private student loans. 10% of those loans exceed $54,000. 40% of households are headed by someone under 35 who owes college debt, and more than 80% of bankruptcy attorneys reported a moderate-to-significant increase in clients with student loan debt in 2012. $+ Additional costs for grades entering the workforce... Students and Credit Cards 91% 50% 91% of undergraduates have at least one credit card, up from 76% in 2004 50% of college students have 4 or more cards. The average credit card debt for an undergraduate is at an all time high, at $3,173. 25% of students have paid a late fees The average credit card debt for graduating seniors is up 42% from 2004, at $4,100. 15% of students have paid over-fimit fees 1989 2010 20% of households had student loan debt in 2010, up 100% from 1989. 10% of net income is the recommended amount for debt obligations, yet people 18 - 20 spend nearly 30% of their income on paying debt! 7.2% of students drop out of college due to debt and/or financial pressures. The need for financial literacy Studies have found that high school students lack an understanding of basic personal finance concepts, with survey participants having an average of just 57% of the questions correct. Only 45% of teens know how to use a credit card, and only 26% understand how interest and fees work on credit cards. 84% of undergraduates admit they need more financial management education. Of those who admitted this need, 64% would have preferred some type of financial literacy education in high school, and 40% would have liked that as college freshman. Sponsored by Sources www.creditguard.org TTP D/U/ESRCES/STATS/ NITP/W.FASTWER. cOM/FINANCIAL-AID/ARTICLES/1030-SHICKINE-STODENT-DEST-STATISTICS TTPVITITONPOST.COM/ENS/STIDENT ET-STATISTICS WITP//WWW.HIFFINSTONPIST.COM/TARA-REYNILOS/VASS-NUTUNL-STUDENT-BEST,2006510.ATNL ITE.IFFINETONPIST.COM/2010/18/22/STATES WIERE- STUDENTS-AREN 7254.TWLISI312TITLE-I_25142 BlIF FISTONPIST.COM/210//8/STIDENTS-DEBT-BURDEN-DUTP52124.ATML HITPV.CREDIT.COM/PRESS/STATISTICS/STIBENT-CREDIT-IND-BET-STATISTICS. NTML HTP/NWINERICASPREBRESS IRE/ISSES/HEHER- EITATION/REPORT/012/11//4/TNt-STUDENT-BET-CRISIS/ P.1 NTTPPROIECTONSTIDENTDEBT.ORG/IEWSRION.PAPITYPE-PROIECT TTPNERED.1OV/PIEARCR/PIED ASPPEBID-20131