MILWAUKEE, WI--April 5, 2005--CollegeGrad.com, the #1 entry level job site, today released its survey results on how long college students anticipate it will take them to pay off their student loans. 46% of student loan recipients say it will take them more than 10 years to pay off their student loans.
With the rising cost of a college education, students are being faced with larger student loan bills upon graduation, and a lengthier payback period. "The demands being placed upon college graduates are only increasing," said Brian Krueger, President of CollegeGrad.com. "Being faced soon after graduation with hefty student loans is just another reason for college students to make every effort to find their post-graduation job early."
With only a six-month grace period before having to begin payments on their loans, it is critical for graduates to quickly begin earning a steady income. Graduates are faced early-on with the "real world" of bills. Krueger points out, "having a steady income at that point is important for future financial success. It affects credit records, and the ability to take out loans for things such as buying a car or a house."
Students often receive loans from a variety of institutions; upon graduation, they are then faced with not just one student loan bill, but a set of multiple bills. A popular student response is to consolidate their loans, which will roll all of their high-interest payments into one lower interest monthly bill.
Students have an opportunity to start of on the right foot by having a job offer in-hand before they graduate. CollegeGrad.com is a great first stop for entry level job seekers. Job seekers can use the resume templates to create or update their resume, research more than 300 entry level career fields, and apply directly to relevant entry level positions by visiting the CollegeGrad.com job board.
Following are the overall survey results:
How long will it take to pay off your student loans?
The survey was conducted nationally using an online poll placed on the CollegeGrad.com home page from February 18 through March 31, 2005. The results are based on more than 2000 respondents.
CollegeGrad.com is the #1 entry level job site on the Internet and is the leader in the field of entry level job search. Brian Krueger is President and Founder of CollegeGrad.com and author of the best-selling book for entry level job search, College Grad Job Hunter.
Further information on this news story, including access to the original survey form, as well as additional quotes from employers and college career center directors, may be obtained from the Web site at: www.CollegeGrad.com/press.
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Brian Krueger is available for interviews with national TV, radio, magazines and newspapers as an industry expert on college/entry level hiring, as well as Internet job search.
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