Magazine article USA TODAY

Is the Debt Really Worth the Degree?

Magazine article USA TODAY

Is the Debt Really Worth the Degree?

Article excerpt

The average college student will graduate with $37,172 in debt. College grads generally make around $50,000 once they enter the job market (if, of course, they can find employment.) This causes many people to wonder: is university for everyone? Would entering a skilled trade be a smarter choice for many young adults?

'We have this idea in our society that a college degree is the gateway to financial freedom and success, but the statistics don't necessarily bear that out," says Rob Wilson, president of Employco USA, Westmont, Ill. "Most college grads end up moving home after graduation to live with their parents, and it takes several months or more for them to find a job. In many cases, that job won't be in their field of interest, and these young people end up spending a good chunk of their paycheck paying off their hefty student loans."

In contrast, Wilson says that skilled trade workers make $50,000 a year (similar to a new college graduate's annual salary), and they have around $2,500 in student loan debt. …

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