June is graduation season, and with it comes many ceremonies which celebrate the passage of a student from the academic world to the pursuit of their life's work.
Unfortunately many will be carrying more than a cap and gown into the "real world" this Summer. They will be carrying a huge sum of debt from student loans that looked attractive four years ago but now border on predatory.
Consider this: According to CNN, nearly two of every three undergraduates will go nearly 20 thousand dollars in debt. Most of that is owed to the government. That number multiplies when you talk about grad school, med School and even trade schools. Private lending for student loans is now a $10 billion business in this country.
Add to that a credit card or two and you are headed for big trouble, even before you enter the work force.