Graduation season is here!
But instead of planning for a year abroad or embarking on exciting new careers, many new grads are instead paralyzed with fear over a weak job market and crushing debts.
“I am a slave to my student loans and I cannot take it," says Flickr user Rhiannon. She's a 27-year-old graduate of Arizona State University.
Related: Generation I.O.U. Slideshow
In 2011 two-thirds of college seniors graduated with roughly $27,000 in student loan debt. More than 38 million Americans owe more than a combined $1 trillion in outstanding student loans.
If you are a parent or a student, you know that college education costs have skyrocketed in recent years. What you may not know is that the annual cost of a four-year degree has risen three times as fast as the rate of inflation since the 1970s.
Why the U.S. higher education system is broken
What makes this crisis worse is the fact that finding a job after college graduation has becoming increasingly difficult in this toughRead More »from America’s Student Loan Crisis: Generation I.O.U.