July 2012 Bonus Issue - Page 6

D RE ! TU ICLE A FE RT A Dream Careers Drowning In Student Loan Debt By Susan Blackert It is highly likely that you or someone you know has wrestled with student loan debt. According to the New York Times article “Degrees of Debt: A Generation Hobbled by the Soaring Cost of College”, a staggering 94% of all students who earn a bachelor’s degree have borrowed at least some money in order to pay for their education. It seems that very few people haven’t been touched by educational debt...as evidenced by a speech President Obama gave to a crowd at the University of North Carolina at Chapel Hill in April 2012. President Obama mentioned that he was 42 years old before he and the First Lady both paid off their student loan debts. He stated, “When we graduated from college and law school we had a mountain of debt. When we married, we got poor together. We added up our assets and there were no assets. And we added up our liabilities and there were lot of liabilities— basically in the form of student loans”. Nationally, the $1 trillion+ amount of student loan debt has surpassed all consumer debt for the first time in history. While our country has focused intently on mortgage and credit debt for the last several years, educational debt has qu Y]H[YX][HXYHHX]Y\XZ[\[[[ܘYX][Y[ˈ\\][ܜH\H\وY[]وYK^HX]HYH]]HYܙYK][H[ۙ^H܈H[YH^H[[\ˈH\[[Y\\ܝY 8'\ MHوYHY[\]H\^YX\YܙY\][^YX\Xܙ[H LH\\ܘYX]HوYX][ۈYKHKˈ\XY\܈H\[YHوY[\]YYHۘH^H\Y] ][Z[ݘZXK'BH]X\\[H L'H[\[ܘH[H[]\H\\[[\\ 'H[\Z[Z[