College students in major countries are out of college and worried about the timely repayment of their college debts and student loans. The job situation is bleak while the mounting debt is on the rise in the staggering economical times.
According to finaid.org, in 2008, almost two-thirds of undergraduate students graduated with a bachelor’s degree and debt, averaging up to $23,186 per student where 83 percent of students have been reported to complete education on student loans.
A similar situation is seen in UK where student debt is estimated to rise up to £70billion in four years because ministers were unable to estimate the maximum fees charged by the universities charging maximum fees, an analysis from Public Accounts Committee reports. The Committee has blamed the ministers for pushing up fees to £9,000.
In USA, fresh graduates were optimistic about the job situation as 244,000 jobs were promised in April added but the unemployment is still high rate despite the addition of job opportunities. On the contrary, the month of May reported a major decrease in the job growth that was seen in earlier 2011, which makes the students perplexed about repayment of their college loan debts.