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4 dead as severe storms hit Houston, TX; Election Protection Program eases access to voting information; surge in solar installations eases energy costs for Missourians; IN makes a splash for Safe Boating Week.

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The Supreme Court rules funding for the Consumer Financial Protection Bureau is okay, election deniers hold key voting oversight positions in swing states, and North Carolina lawmakers vote to ban people from wearing masks in public.

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Americans are buying up rubber ducks ahead of Memorial Day, Nebraskans who want residential solar have a new lifeline, seven community colleges are working to provide students with a better experience, and Mississippi's "Big Muddy" gets restoration help.

AZ College Grads: The Diploma and the Debt

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Tuesday, June 4, 2013   

PHOENIX - The average college student in the United States will graduate owing almost $27,000 in student-loan debt, a 40 percent jump since 2002. Arizona grads typically owe about $20,000.

According to Jonathan Fox, who is a college financial counselor, student loans can be especially troublesome for those who rack up the debt but don't come away with diplomas.

"Where it's a more grave issue is for those who have a significant amount of student debt and haven't graduated; then they don't have that return on investment that shows up in higher earnings, and it becomes a problem."

Typical student loan payback amounts are several hundred dollars a month, for 15 years or more.

Fox said many students may look at how much debt they've racked up and think they will never pay it off.

"In a longer-term financial planning prospective it's very doable, it can get done, but step number one is managing your expenses and your cash flow."

He said college graduates need to have two things right away: a job, even one that is outside your chosen field, and a financial plan.




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