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Student Debt Can Limit Work Options

Posted by Shane Tyler on March 15 2011 @ 9:05 am

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Students in debt are having trouble getting a good job to pay for their debt. College students are racking up thousands of dollars in debt, whether it is from loans, credit cards or both. This difficult debt situation can prevent them from going into fields that they are interested in, because the pay isn't sustainable or their credit history is less than stellar.

Employers have an increasing tendency to check credit reports, weighing them in a similar fashion that they would a resume. Not having a good credit history because of outstanding loans or credit card debt could knock someone out of contention for a job immediately.

When it comes to loan debt, some students are in so far over their heads that they don't have the opportunity to take a job they would enjoy or have studied for. Because of this, they just go with whatever is the highest-paying they can find, Stephen Seaward, career development director at St. Joseph's College told MoneyWatch.

The average college graduate has $24,000 to repay in loan fees, a report by the Project on Student Debt said, according to the news source.