College Degree = Bankruptcy?

A recent study finds that this is more and more likely. Generations ago, joining the military and/or securing a labor position at a local plant guaranteed upper-middle class income for most Americans.  In 2011, a bachelors degree (or higher) is the gold standard. More and more American college students are depending on increasingly higher interest rate student loans to cover skyrocketing tuition.  These students believe that they will secure a high-earning position post-college and going forward.

For some college graduates this happens.  For others, they secured jobs during a healthy economy only to lose them when things got shaky. Reports are showing that many college educated individuals are unemployed or underemployed, making a fraction of their previous income. For many of these folks, bankruptcy is a way to start fresh and rebuild from the ground up.