How Young People Get Caught In The Student Debt Matrix [Infographic]

By Heather Huhman

Share on: 

For many types of jobs, higher education is extremely important. However, for many young adults, the price of a college degree has become a deterrent. It won’t be too long before that means fewer skilled employees for employers.

As the following infographic from Gradvisor, an employee benefit that helps parents enroll in and manage 529 college savings plans, shows, 36% of millennial graduates say they wouldn’t have gone to college if they had known how much it really was going to cost.

If employers want to continue to have a fresh crop of college graduates year after year, it’s time for them to consider the impact student loans are having on young adults. The infographic looks into how the cost of college has negatively affected millennials and how the issue can be avoided in the future. Some highlights include:

  • 63% of young graduates have educational debt.
  • 1 in 10 owe more than $50,000 in loans.
  • 25% of millennials still live with their parents because of their student debt.
  • Only 11% of companies offer 529 plans to their employees.
  • However, 66% of employees without a 529 plan would enroll in one if their employer offered it through automatic payroll deduction.

Check out the full infographic and find out more facts about how 529 plans can help end the cycle of student debt.

What are some other important considerations employers need to think about when it comes to student debt? Share in the comments below!

 

About the company...

The Social Hire team never just do social media.

Our digital marketing managers are the wizards that can give you the insight you need to grow your business. Have you had enough of making complex personnel choices that don't work well for your online marketing?

Is it important to you to increase the digital footprint of your business by utilising online promotion, but can't work out how to begin?With the professional understanding of our digital experts working in your business, you can begin to see interaction, brand loyalty and enquiries get better without having to take your team out to spend time on ineffective marketing strategies, or spend money on a internal marketing manager with a view to get results that may not deliver!

Our specialists are a company that assists our customers further their presence online by giving online marketing on a regular basis.

You might like these blog posts Top 5 Highest Paying Social Media Jobs, Competitive Salary is Still Important to Graduates, Someone Important Just Quit-Here’s What To Do, In This Order, and 3 Tips on How to Use the Power of Color Psychology in Your Web Design.

  Back to Candidate blogs