Rutgers released a new study that surveyed 444 students who finished their undergraduate degrees between 2006 and 2011 and found that half of the graduates were working full-time, 26 percent were working part-time, 20 percent were in graduate school and the rest were unemployed or underemployed.
Those who were able to find work before the recession earned a median income of $28,000; those who found work after made about $3,000 less than that. And interestingly, those who completed an internship before graduating earned 15 percent more on average.
But having a job isn’t the only issue at hand here. Issues of employment are much more stark when coupled with the thousands of dollars of debt most student accrue during their time in school.
Today NPR reported on this issue, interviewing Cliff Zukin, a senior research fellow with the Heldrich Center for Workforce Development at Rutgers University who said that more students come out with debt than have jobs. The center released a new study which found that six in 10 students who took on debt owed an averaged of $20,000 after graduating, regardless of their job situation.
And it doesn’t stop there. The recently released Ryan budget has proposed to eliminate the entire AmeriCorps program, which helps students and recent grads take the next step in their careers, provides grants to local and national organizations and encourages public sector service. AmeriCorps, which was created under the Clinton administration and expanded under the Bush administration, has become more popular since the recession hit and is proven to be a launchpad for public servants, civic leaders and social entrepreneurs. It usually enjoys at least some bilateral support: “There can be no definition of a successful life that does not include service to others.” said George H. Bush.
We’ll be talking about unemployment, AmeriCorp and the huge hill recent grads have to climb to self-sufficiency. Tune in to Current TV at 9/8c tonight for the full story.