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Plan Well, Retire Well

Saving and investing your money

College Debt in the News -- What's Your View?

College seniors who graduated in 2010 carried an average of $25,250 in student loan debt, according to The Project on Student Debt.

CNN Money reports that the average cost of a wedding is more than $27,000.

And, the average cost of a new car is $30,303, as reported by Forbes.

Let's think about this. What's the worth of each of these items – college education, wedding, and new car – 10 years down the road?

While the current economy has been extremely difficult for young adults looking for work, having a college education does increase a person's odds of finding employment. Nearly half of all recent high school graduates are looking for full-time employment, according to a Rutgers' University study.

In contrast the underemployment rate (including those who would prefer more hours of work or who have given up looking for work) is about 19% for recent young college graduates.

19% underemployment is not good news but it's much better than almost 50%!

College student loan debt has been in the news headlines lately. What are your thoughts about it?

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