Advice for Employers and Recruiters
Why are your interns and new grad hires so strapped for cash?
The student debt that Millennials and now Gen Z have and are incurring is crippling and,
Those who went to college in the
Today’s students are often attending schools which charge $25,000 or more per year plus another $15,000 in related costs such as traveling to and from school each semester, rent, food, and books. A four-year degree, therefore, often costs $160,000.
Part-time jobs typically pay about $10 per hour. At 20-hours a week, that’s $41,600 over four years, so about $120,000 needs to be financed. Student loans often carry interest rates of eight percent or more, so over 20-years the average student is going to see about half of their gross wages disappear to repay the principal plus interest on their student debt.
The end results
If that’s not a recipe for financial disaster, I don’t know what is.
New Job Postings
Advanced Search