MidAmerica Nazarene University surveyed 2,000 American seniors and recent graduates for a new exhaustive report that examines the extent of student loan debt and the current job market. All of the respondents queried were between the ages of 20 and 24 years old. Fifty-four percent of the surveyees were male and 47% were female. Sixty-five percent of this group attended public school, 26% went to a private university and 9% attended a community college, vocational, technical school, or other.
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Are college students satisfied?
The average college student applied to four colleges, though most only got accepted by two. Thirty-five percent of respondents featured in MidAmerica Nazarene University’s survey wished they went to a different school and 28% ended up transferring.
The primary factors energizing enrollment ambivalence seemed to be cost, lack of fulfillment with their studies and disappointing campus life. This vacillation often follows students through their entire tenure. The loudest thing the new survey declares is how so many Americans allow the wrong things to govern their college careers. Twenty-percent of students said that their major wasn’t relevant to the career they intended to pursue. Thirty-eight percent of this demographic said there aren’t enough jobs or opportunities in the things they’re passionate about to justify studying it in college, 26% felt the things they were actually interested in might be too difficult to study, and 25% said that they were pressured by family and friends to pick their majors.
Alongside the factors mentioned above, the state of the current job market influenced the major the recent graduates even though 62% are not currently are occupying careers that are relevant to their majors. Fifty-five percent expressed a negative opinion about the state of the market, and an addition 55% said that if money wasn’t a factor they would have picked a different career and major.
63% of surveyees did not have a job lined up before graduation.
America owes $1.46 trillion dollars in student loan debt, shared by roughly 44 million borrowers. Seventy-one percent of respondents in MidAmerica Nazarene University’s survey reported taking out student loans, with the median amount being around $25, 893. The vast majority of participants received assistance from their folks: the most commonly occasioned amount landed between $1,000 and 5,000. It takes the average college graduate nearly 10 years to pay off their loans, which means most Americans won’t be free of their debt until the age of 35.
A lack of focus causes many graduates to enter underemployment and dead-ends. Because the job market is so competitive, many experts recommend college students start the job hunt as early as possible. Many organizations and recruiters begin the selection process around Fall so that they can make offers around November. Avoid underemployment and dead ends by getting a start as early as possible.
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