About 58 percent of Washington’s college graduates in 2008 took out loans, averaging $19,000. That is the 35th highest debt rate in the nation for public schools and 27th for private colleges.
Students in the District of Columbia graduated with the highest average debt level at $29,793, while graduates in Utah had the lowest average debt at $13,041. Nationally, the average is a record high of $23,200.
Meanwhile, colleges across the country are experiencing spikes in enrollment by people who’ve either lost their jobs or are seeking different career paths.
Because of the tough economy, people like Torrens are compelled to take “survival jobs” to make ends meet.
“I’m fortunate enough to have a job to pay these loans back. Over time, it’ll get easier,” Torrens said. “The biggest sacrifice I make is still living at home. If I were to have rent and food, it would be pretty tight.”
National unemployment rates for college graduates ages 20 to 24 rose from 7.6 percent in 2008 to 10.6 percent in 2009, according to the report.
In Yakima County, the overall unemployment rate has fluctuated from 6.8 percent to 10.9 percent in the past several months.
While taking out loans may sound daunting, students have to think of the big picture, said Agnes Canedo, director of Financial Aid at Central.
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