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With America In $1.2 Trillion of Student Debt, Manufacturing Is an Answer

Balancing The AccountIt’s been a while since we’ve talked about a point that’s very relevant to who we are and what we do: the student debt crisis.

Yesterday, a Forbes article pointed out the fact that the total student loan debt in the United States today is $1.2 trillion. 

Here are a few other startling facts from that same article:

  • Two-thirds of all graduates are graduating with some level of debt
  • The average student loan borrower this year will be $26,600 in debt
  • National debt slows the whole economy, meaning things like fewer jobs created, and higher interest rates
  • Student loan debt also has an impact on the economy because people with student debt are less likely to make big purchases

This is compared to the 38% of students at two-year schools who have debt, which averages at $7,000 per person–a significantly lower number.

But there is an answer, and that answer is manufacturing. The serious skills gap here in the U.S. means that manufacturers have a shortage of skilled workers able to do the jobs they need–and that translates to more hiring of people with the right skills.

STEM skills and the jobs they lead to pay well, and are actually a lot more interesting than you might think. You can end up with a great career–not just a job–that pays well, and really makes a difference.

And at a time where student loans are a serious problem, it doesn’t hurt that manufacturing jobs can be had with little or no student debt (in fact, some manufacturers will even pay for your training if you work for them after school).

Four-year college can be a good solution in many cases, but don’t talk yourself into thinking that they’re the only way to get a good education and a good career. Technical schools offer as good of an education as any four-year school out there, all without the worries of serious student debt.

photo credit: kenteegardin via photopin cc

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