Any college student or recent college graduate has probably heard that the job market for young grads is pretty barren. In fact, 53% of recent graduates were unemployed in 2012 and that’s not all they have to worry about. They also have student loan debt to deal with that is at an all-time high. In 2012, the average student graduated with $25,000 dollars in student debt. This is partially to blame for the dramatic rise in the cost of an education. The cost of tuition alone has risen about 500%.
These facts and more were collected and included in this enlightening but distressing post by Consolidated Credit. Take a look to see how the cost of college and, subsequently, student loan debt has inflated with each generation of student. The most alarming fact is that the rate at which these prices are increasing doesn’t seem to be going down. By the time the average graduate has finally paid off his student debt it will be time to start making even bigger payments for his kids.