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News Brief

May 13, 2013Des Moines, IA |  By: News Service

After Graduation

In a few days Iowa colleges and universities will graduate thousands of students.

Almost all of them are in the same fix, owing tens of thousands of dollars in student debt, and the first bill will due in a few weeks. The average college student will graduate owing almost 27 thousand dollars in student debt, a 40 percent jump since 2002. Iowa State University financial counselor Jonathan Fox says those who graduate are typically far better off than those who dropped out and still have a mountain of student loans to pay.

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Fox says many students may look at how much debt they’ve racked up and think they will never pay it off.

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He says those getting their diplomas this month need to have two things right away, a job, even one that is outside your chosen field, and financial plan.