Throughout our primary education, we are told that the key to financial stability is further education. The U.S. Census Bureau confirms this, reporting that among workers over the age of 18, those with college degrees earn $51,206 a year while their counterparts with only a high school diploma earn $27,915. Obviously, the superior financial choice would be to invest in further education.
Unless these statistics do not show the whole picture of the average American college student and their role in the U.S. economy.
The reality is that today's college students are taking loans more than triple the size of their counterparts a decade ago, at a time when the rate of unemployment for young college graduates is higher than it has ever been before. What does this mean for our country? Without foreseeable hope of financial stability, this generation is delaying rites of passage such as getting married, buying a home, and having children. Perhaps more significantly, this generation is learning that hard work does not guarantee results.
America cannot afford to deny its young people a route to financial stability.
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