Source: Rebel Yell
It’s the home stretch for seniors, halfway through their last semester. Job searches, grueling interviews and fancy resumes have placed the goal of actually making money in the forefront, but the threat of paying back student loans awaits.

College tuition is rising far faster than inflation. On average, students at a public university will accumulate student loan debt of approximately $19,000. In Nevada, the estimate is about $16,700 on average. Compounded with payments on the loan, students will also be facing an all-time high interest rate of 6.8 percent. If your debt is close to these numbers, expect to pay around $400 a month for the next seven years.

It makes sense: You have to spend money to make money. But what about saving for that rainy day, your dream home or a wedding? You go into further debt. The bills add up. Let us count the ways: credit cards, car payments, car insurance, rent/mortgage, utilities, student loans, food, health/dental insurance and traffic tickets. Even if one manages to skim over a couple of these, the point is, living in America is not cheap.

Interest rates have been rising for a while. Tuition has increased faster than the low-paying jobs that students usually maintain. A student who has $20,000 in debt, with payments for 30 years, can expect to pay $27,000 when you include interest. Going to college is big business. Many students think their debt will disappear once they graduate. This is true if they find a limited teaching or nursing job that qualifies for federal loan forgiveness. however, the odds of either happening are slim. Instead, we are pushed into the work force.