Unemployed College Graduates and students are now turning to the internet to make money. Why? A recent call into the Suze Orman Show may give you a clue. Just like millions tune into Oprah for solutions to their personal problems, millions tune into Suze for their money problems. Suze's "energizer bunny" optimism, warm personality and infectious smile are hard to turn off once you tune in. The show is such a big hit with college students, it's no surprise her latest work "The Money book for the Young, Fabulous & Broke" has been on the Amazon bestseller for some time.
Needless to say when Suze entertains calls from viewers, many are college students. Being a financial genius, solutions usually roll off her tongue without hesitation, however one caller left Suze a little perplexed. Nicole was a female College Graduate who had taken out over 90k in student loans, 130k total with interest, now after graduation her monthly payments were $1300 a month, ouch. "What did you go to College to Study?" Suze asked. "To be a Fashion Designer," she said meekly. Suzie gulped, then asked her if she'd thought about all this in hindsight. "When you're young you have all these aspirations," she answered. Since students loans can't be written off in bankruptcy, the only advice Suze could give her was to find a job that would cover the monthly payments and hopefully leave her enough money to live on.
If this College Graduate was a victim of her own unrealistic "aspirations," her University is just as guilty by catering to those "aspirations." Apparently a counselor didn't sit her down and explain the realities of the job market in that field. If the 90k in loans had been spent on a Medical or Law degree, this young lady would have a chance, but how plentiful are high-paying jobs in Fashion Design? While nothing is impossible, unless she was exceptionally talented (not to mention living in New York), chances are she won't find any opportunities in that field. She'd probably end up doing something totally different; and since most entry-level jobs start between 25-30k, the loan would take up almost half of her monthly income. Needless to say, she'll probably be living with her parents a long, long time.
http://www.squidoo.com/WealthyCollegeGrad
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