Recent graduates or those about to earn their diploma know all-too-well how competitive the job market can be. Take it from us, the numbers don’t lie. As of 2012, nearly half of recent graduates were without paid employment. It’s a bleak reality that’s further intensified when you see firsthand the degree of debt credited to student loans and other forms of financial aid.
How many Americans currently have debt? On average, about one in ten. That means if you’re a student about to complete a 4-year undergraduate degree, get ready to pay back about $25,000 in loans. Don’t have that kind of cash? Well neither do the other 37 million Americans with debt. Consolidated Credit have collected some information which has been put into this interesting infographic below. Review this visual timeline to get a notion of what’s in store for future generations and where you fall in the generational scope. It’ll also help answer questions like: how has inflation affected the education system in the past 60 years? And in what ways will you kids’ educational costs be impacted? Be forewarned, however, that you may not necessarily like the answers.