A pair of articles about higher education today—this USA Today piece on student loan debt, and another in the New York Post—call attention to several fast-approaching realities that should cause all of us to take notice—not just college students. A few highlights:
- 13.3 percent of today’s 2012 grads are unemployed (compared with just 7.6 percent of our seasonally adjusted national average).
- As of last year, 16.9 percent of men ages 25-34 were living with their parents (compared with 2005 figures of 13.5 percent of these young men, and 8.1 percent of these young women).
- An average college grad today holds $27,500 in debt (compared with $15,000 in today’s dollars, for 1993 college grads).
- Today, college costs, on average, $60,000 per year.