National Debt Relief - BBB Accredited Business - Get Relief From Credit Card Debt, Medical Bills And Unsecured Loans

Free Debt Relief Quote

We Take Your Privacy Seriously.

Call Now! 888-703-4948

National Debt Relief, LLC BBB Business Review

News Flash: You Do Not Need To Borrow High Student Loans To Get A Job

drowning George WashingtonHigh student loans continue to hound the younger generation. It seems wrong somehow that they get themselves into so much debt while so young. It is tough to watch that even before they can earn their own income, they have to worry about debt payments.

That is some really bad news about student loan debt. If we cannot solve this soon, we might be prepping up our children’s future to be as disastrous as the recession of 2008. You have to realize that the most recent economic crash was only as bad as it was because of the consumer debt that the average American household had. The government had to swoop in to help those struggling with debt payments and our taxes had to be diverted to that cause.

You do not want to have your child to get used to a life of debt now would you?

The student loan debt crisis is getting worse

Before you borrow that huge amount of money for your college education (or the education of your child), you need to look into a couple of facts first.

According to the most recent statistics from the Federal Reserve Bank of New York, the already high student loans is still increasing. The news release published on revealed that by the end of 2013, the total student loan is at $1.08 trillion. That means the increase from Q3 to Q4 last year was at $53 billion. From 2012, the whole increase of the student loans in 2013 is $114 billion.

That is a huge increase considering that the country is still far from fully recovering after the 2008 crash. Not only that, the debt is keeping young adults from pursuing their lives to the fullest. Here are some of the drawbacks of having high student loans.

  • You are forced to choose a job that pays a high income even if it does not make you happy. They immediately put income as a priority even if it will not give them the best training for an exceptional career.

  • You cannot invest in a home or a new car. Since your loan eats up a portion of your income, you are unable to buy a home at the right time or even a car. You have to prioritize your debts so you can keep yourself from defaulting on your loan payments.

  • You are bound to delay certain life events. Sometimes, too much debt delays a lot of milestones in our lives. For some people it can be getting married or having kids. These entail costs and that can be delayed for lack of finances.

These are only some of the things that high student loans can bring to your life. But what can you do about those student loan payments that you cannot afford?

Obviously, you should try to avoid them.

Study reveals that high student debt may be unnecessary

Most people think that they have no choice when it comes to student debt. The only way they can get a good job with a good compensation is when they get to college. In essence, there is some truth to that.

According to a study published on, the educational attainment of a person affects their income in the future. Those who did not graduate high school only earn an average of $32,631 a year. Those who graduate high school but did not go to college can earn $52,199. Those who got an Associate’s Degree can earn $63,008. While a Bachelor’s Degree and higher can earn $100,637 and above.

These figure tell us that a higher education is necessary to get an higher income. We are not really contesting that because a college degree is a good way for you to earn the income that you will need in the future.

But here’s another question that you need to seriously consider as well. Does an Ivy League school get you better job opportunities than those who went to the not so famous colleges or universities? Apparently, the answer is no.

A poll study that was published in revealed that knowledge and capabilities will always stay ahead of the school where an applicant graduated from. The details of the poll are as follows:

  • Only 9% of business leaders believe that the college where the graduate got their degree from is very important while 30% of the average American believes it is very important.

  • 42% believe that the major of the college graduate is somewhat important while 47% of the average American think that it is very important.

  • 84% believe that the knowledge of the job applicant in the field is far more important than any other factor in their education.

  • 79% rank the applied skills related to the industry is very important.

The last bit of information tells us that even your college degree is not as important as your knowledge and skills about the field you are trying to enter. The bottom line of this study reveals to us that your Ivy League school is not a prerequisite to get a job. You may be qualified to earn a high income but if you cannot even get a job, your Ivy League education will prove to be worthless.

Truth is, you may still need to borrow money to get to college. However, it does not have to be high student loans because you are not compelled to enter into a prestigious school to get ahead in life. That is not a necessary investment. The important thing is to get a college degree and make sure that you will also develop the right skills that will help make you an asset in the company that you will apply to.

How to avoid too much student debt

Despite the fact that you will still need to borrow money to go to college, there are also ways for you to keep it from becoming a big amount. Here are some tips that we have for you.

  • Save up for it. This is obviously only for those who still have time to save. The money you will save can be set aside so you can pay your tuition fee in cash. Or if it is not enough, you can at least lower the amount that you have to borrow.

  • Choose practicality over prestige. While you may want to feel good about going to a prestigious school, it is important that you be practical first. When Laszlo Bock, the senior Vice President of Google who is in charge of hiring was interviewed by The Times, he revealed that a lot of college do not deliver as promised. In the interview published on, he even mentioned that those people who do not go to school but end up making their way nevertheless are the exceptional people. When hiring, Google is after talent and not so much the brand-name colleges.

  • Get a part time job. The only way that you can really develop your talent for your future career is to practice it. That being said, getting a part time job will help you accomplish that and so much more. You can hone your skill and at the same time, get the funds that you need to keep student loans to a minimum

  • Budget your money. Regardless of how much money you have, you need to learn how to budget your finances to keep it from running out on you. Learning to use a budget to stay out of debt is one of the ways you can proactive about your personal finances.

  • Do not acquire other debts unless you have to. We are actually taking aim at credit cards. College students and credit cards can be a dangerous mix if they do not know how to use it properly. If you have student loans, you may want to keep your hands off of other debts.

You have to remember that high student loans are not necessary to succeed in life. A college education is important – but you do not have to put yourself in debt for it. You just have to be really resourceful when it comes to finding the money that you will need to fund your college degree.

Do you qualify for debt consolidation?

Mobile Menu