PHILADELPHIA (CBS) – The average college graduate is saddled with more than $35,000 in debt, according to a new survey.
The survey of 750 college graduates, which was conducted by Fidelity Investments, showed that more than 70% of the Class of 2013 carries debt averaging $35,200.
Furthermore, the survey results show that 59% of students chose certain majors with the hopes of a better paying job, and 39% of students would still have attended college but would have made different choices related to college planning had they understood the costs.
While more than half of recent grads said they have a plan in place to pay back their debt, among those who graduated in 2011 or 2012, only 47% currently have a full time job.
And as for the Class of 2013, their outlook on finding a job in their field remains negative – more than half of those surveyed said they were “pessimistic” about their prospects.
To view the survey results, visit: www.fidelity.com/static/dcle/welcome/documents/Fidelity-College-Grad-Study.pdf