Tag Archives: student

Student Debt [Photo]

Student Debt

We all know that a good education is beneficial in many ways. Sadly it is not always helpful in getting a person a high paying job in South Africa. Former students with a higher education qualification are one of the highest percentage of the population who are unemployed (much higher than those who leave school early).

President ObamaOther than not finding work (for some it can take several years before they are employed in the field in which they studied – if ever) there is also the obligation to eventually pay for the education. Many take on student loans to pay higher education centres and it can take many years to repay. It is said that former American President Barak Obama only paid off his student debt 8 years before becoming President of America.

‘American President Barak Obama only paid off his student debt 8 years before becoming President’

 

This image (submitted from a reader) shows an awareness among some students of the mountain of debt that they will have to repay before they break even at some future point. Added to their existing student loan debt many young professionals go further into debt to try live a lifestyle on par with those who have been working for many years. This can place them under even more pressure to earn and perform in a fickle and volatile job market and economy.