The Next Bubble Is About to Burst: College Grads Face Dwindling Jobs and Mounting Loans

This has been a concern to me for some time….

So many kids are graduating college with so much debt- and no jobs.

And the Republicans want to cut education funding and Pell grants….

But then, the GOP has never valued education because educated people don’t vote Republican- unless they are rich and voting their pocketbook…

A scary little article from Alternet.com:

It’s the beginning of summer: warmer weather, longer days, the end of the school year. And that means graduation for thousands of young people across the U.S.; graduation with more student debt than ever before, and into a job market that is anything but promising.

Young people between the ages of 16 and 24 face an unemployment rate nearly twice that of the rest of the population, according to data from the Economic Policy Institute. 2010’s 18.4 percent rate for youth was the worst in the 60 years that economists have collected such data. ColorLines notes that in 2010, 8.4 percent of white college graduates were unemployed, 13.8 percent of Latino graduates, and a dismal 19 percent of black graduates.

Those bright, shiny new degrees simply aren’t worth the paper they’re printed on all too often. The cost of a college degree is up some 3,400 percent since 1972, but as we all know too well, household incomes haven’t increased by anything close to that number — not for the bottom 99 percent of us, anyway.

More:   The Next Bubble Is About to Burst: College Grads Face Dwindling Jobs and Mounting Loans | Economy | AlterNet.

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Filed under Congress, Education, Politics

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