For those thinking about where they should end up after graduation, it’s also important to look at opportunity.
The unemployment and underemployment rates for recent graduates aged 25 to 34 was an important measure to assess how students would fair paying back loans, said Jill Gonzalez, a senior analyst for WalletHub.
Student loan debt now tops $1.5 trillion and more than 42 million Americans are still paying back the cost of college, according to the office of Federal Student Aid.
New graduates looking to move should “consider the cost of living,” said Gonzalez. In a bigger city, “even if salary is higher, cost of living is higher, too.”
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That might mean that there is less money available to pay back loans or save for other financial goals, such as owning a house.
Where one attends college has always been a personal choice. With the cost of education skyrocketing, the return on investment of a degree is important to keep in mind.
“Everybody shouldn’t aspire to the same college, very often it’s superficially reduced into getting into the best college,” Nassirian said. “But best for who?”
“It’s very important that people go to the place where they feel comfortable,” said Nassirian. That means academically and socially, as well as financially.