So, you’ve graduated college and are now ready to enter the real world, but are you really prepared for it? Take a look at your student loans, for example. Have you already started to pay them off, or are you still hoping your parents will help you out? Chances are, with the rising cost of tuition in all areas of higher education, it’s unlikely you’ll get through you college years without accruing some serious interest on those loans.
Take a look at the staggering statistics in the Consolidated Credit infographic below. It outlines the history of student loans in the U.S., and what it ‘s come to today: 30% of student loan holders who are at 30 days passed due on their payments; 1 in 12 who’ve default on federal loans. Ouch.
These numbers are the reasons many are doubting the value of a college education, or wondering when the tuition bubble will burst. For now, though, this is the reality we are facing–and if things don’t change, it’s the reality faced by future generations as well.