Mar 26, 2013 12:27 AM by Annie Snead

More college grads can't pay off their loans

In this tough economy, it's not hard to believe that more college graduates can't pay off their student loans.
Banks wrote off $3 billion worth of student loan debt in the first two months of this year, up more than 36 percent from a year ago.
"I mean i'm definitely worried about it, I think all my friends are worried about it," said college student Michelle Cully.
"Once I graduate it's not going to be that much compared to others, my loans are only going to be like 12 thousand so i don't have any fear of not being able to pay that off," said Kendra Haywood.
"It's been a big point of stress throughout college. I think a lot of people here do worry about that," said Eugene Mckee.
And these students at Colorado College echo a sentiment across the country, the realities of a slow economy, tight job market and rising cost of a college education.
"I'm not surprised, the current job market, the economy, just higher education isn't affordable and it's just so necessary..some kind of higher education is so necessary for a lot of jobs," said Mckee.
Despite the grim news about the inability of so many college grads to pay off their loans, it doesn't seem to be a deterrent to these CC students in their pursuit of a college degree.
"I don't want it on the forefront of my mind because I know that I am here to learn and if I do work hard in school and get a good job then I will be able to pay off those loans," said Cully.
The number of student loans outstanding also increased from february of last year by nearly thirteen percent, from $108 million to more than $123 million.


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