College and University Blog
College Graduates Putting Life on Hold to Pay Back Loans
In our society, people have been expected to follow a certain path. Finish high school, go to college, get married, buy a house, start a family. These days, though, more and more young adults are postponing the wedding and the mortgage and the babies in favor of moving back home with Mom and Dad.
The lack of decent-paying job prospects for recent college graduates and the excessive student loan debt that most of them are saddled with has many young Americans putting their lives on hold to make their loan payments.
Paychecks Eaten Up by Student Loan Payments
According to The Wall Street Journal, outstanding student loan debt in the United States has topped the $1 trillion mark. It continues to rise as current students take out more loans and past students default on payments.
Jodi Romine, profiled by WSJ columnist Sue Shellenbarger, borrowed $74,000 in student loans while earning a business management degree at Kent State University. Her student loan payments come to $900 each month, a whopping 60% of her monthly paychecks. Her fianc
Melissa Rhone+
Melissa Rhone earned her Bachelor of Music in Education from the University of Tampa. She resides in the Tampa Bay area and enjoys writing about college, pop culture, and epilepsy awareness.