Indebt(ed) to Education

Student loan blues - chicagotribune.com: "Two-thirds of college seniors graduated with loans in 2010, compared with fewer than half in 1993, according to the nonprofit Project on Student Debt in Oakland. Total debt loads have been rising about 5% a year, with the average graduate now on the hook for $25,250.

Last year, students took out $117 billion in new federal loans, pushing the total above $1 trillion, according to the Consumer Financial Protection Bureau.

A heavy student-debt load also weighs on decisions about careers. Celeste Knight, an 18-year-old UC Berkeley freshman, is considering becoming a social advocacy lawyer, but she worries that student loans could force her to look for a higher-paying job.

"I don't think everyone should be choosing a job based on 'Will my income be high enough to pay off my student loan?'" Knight said. "A whole generation of students is already so far in debt that even if you get a great-paying job, you're not going to live this great American standard of living.""

'via Blog this'