Top 5 financial bets for student loan-burdened grads

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…

Top 5 financial bets for student loan-burdened grads

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.”

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