Written by Caren Salimpour, CNN
Richer graduates are increasingly opting for jobs in finance, consulting and high-end consulting to offset their student loan debt and rebuild financial assets, according to a survey of over 300 graduates conducted by the Institute for College Access and Success.
With student loan debt at an all-time high — around $1.2 trillion, according to the Federal Reserve Bank of New York — college grads in the private and public sectors alike are feeling pressure to find a job.
1 / 6 – Michelle Jackson, 29th Floor Recruitment Representative, Cognizant
Michelle Jackson earned a Bachelor’s in Computer Science from Villanova University and worked as a data analyst at Comcast. She is now working on a master’s in Business Administration at the University of Southern California. Credit: Courtesy Michelle Jackson
But there are thousands of jobs available, so what exactly should a struggling grad do?
Here are some suggestions from career experts and best-selling author John Jantsch.
1. Take a financial risk
A good number of graduates end up unable to afford a first home purchase, says Catherine Baba, a mortgage lender for The Fannie Mae Financial Literacy and Education Centers.
“If graduates are fortunate enough to be employed by a financially stable company, they may be able to take on a mortgage loan to a home of their own,” she says.
“Despite any stress financial uncertainty has caused, financial risk still pays off.”
