Student Loan Debt On The Rise: What Grads Can Do About It

Your college graduation should be a happy time. You’re moving on from one life stage to another, and now that you’re armed with knowledge and a degree (or two!), endless possibilities are in store for you. Right? Well, if you’re one of the millions of grads starting your life off with thousands of dollars in student loan debt, it’s not as simple as it sounds.

A recent article by Business Insider profiles a woman who, despite her efforts to pay off her student loans, is still knee-deep in higher-education debt…after 20 years. “My debt is not going anywhere because I do not make enough money, not because I have ignored it.” With student loan rates on the rise, her situation is becoming more and more common. But just because it’s “common” doesn’t mean its ok.

To add insult to injury, it’s becoming more and more difficult for graduates to find jobs – much less a job with a salary that will help to significantly offset their student debt. Grads are finding themselves settling for nine-to-fives that don’t require a degree or simply don’t pay them a salary that is commensurate with their educational background. In a situation like this it may be difficult to think long term, but that’s exactly what you need to do.

While it may be daunting to think about your future, take a step back and think about what our CEO JR Ridinger said in a recent article about how to offset student debt. “Building an UnFranchise®  business is the perfect way to offset the costs of higher education! We offer a global entrepreneurial opportunity unlike any other, which can provide a substantial ongoing income for those who build the business the right way. And when you become a product of the product and convert spending into earning by building your Shopping Annuity, you’ll be putting your success into overdrive!”

If you’re feeling the weight of student debt on your shoulders, don’t panic; look around at the opportunities available to you to see what you can do about it. The longer you wait for “the right opportunity” to come to you, the bigger and bigger your debt will grow. Get creative, get up, and get going! The only person who can change the course of your future, your fate, and yes, even that mountain of student debt, is YOU.