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Student Debt Affecting Careers
To pay off loans, college grads are putting wages over job satisfaction.
Published September 24, 2008
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BUY A REPRINTThe rising cost of tuition and mounting debt has many college students pursuing high-paying jobs over career development in order to pay off loans, according to a survey by Experience, Inc.
Half of 188 college students polled by the Boston-recruiting firm said they would choose pay ahead of career satisfaction. More than a quarter said loans had an impact on their career choices, while over 60 percent said they were more likely to accept jobs that offer loan assistance.
In a separate survey of about 150 recent graduates, 40 percent said they had opted for high paying jobs to help pay off loans, and 47 percent said student-loan debt was a consideration in their job search.
"The competition for great new talent will be won by the employers who offer paid internships, scholarships, loan assistance initiatives and other benefits that ease debt burden," Jenny Floren, the company's CEO, said in a statement.
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