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Student debt may hurt chances at full-time employment:
A recently published study led by The University of Texas at Arlington says that student debt may hurt students' chances of securing full-time employment due to added pressure in their job search.
[...] The researchers say that having student loan debt is a financial stressor to students that leads to additional stress during their job search, which in turn can harm their chances of securing a full-time job.
"Student loan debt creates an anticipated loss of financial resources, which brings higher levels of stress to student job-seekers," said Froidevaux, who is a fellow of the Eunice and James L. West Distinguished Professorship. Her research interests include career transitions, retirement and aging in the workplace, and identity negotiation.
The more financially strained individuals are, the less likely they are to have sufficient energy and motivation to invest in their search for a successful job placement, she said. Results from the study also suggest that students who are more stressed about their student loans were likelier to work more hours in part-time jobs. This stress in searching for a job reduced the likelihood of securing full-time employment upon graduation from college. The research team used data from 1,248 graduating seniors from four different American universities.
The current level of student loan debt in the USA is $1.6 trillion, above credit card debt and auto loans, and second only to mortgage debt.
Journal Reference:
Ariane Froidevaux et al, Is student loan debt good or bad for full-time employment upon graduation from college?, Journal of Applied Psychology (2020). DOI: 10.1037/apl0000487
(Score: 2) by Subsentient on Thursday August 27 2020, @10:12AM (6 children)
Employers are getting pickier. They can reject you for your credit score, for smoking, for the college you went to, your GPA, whatever they want, and they do.
Community college is becoming less viable because employers are turning their noses up at it.
"It is no measure of health to be well adjusted to a profoundly sick society." -Jiddu Krishnamurti
(Score: 2) by c0lo on Thursday August 27 2020, @11:53AM (3 children)
Simple way to solve this: start being and employer rather than a prospective employee.
https://www.youtube.com/watch?v=aoFiw2jMy-0 https://soylentnews.org/~MichaelDavidCrawford
(Score: 2) by VLM on Thursday August 27 2020, @12:56PM (2 children)
Is it permanent or temporary that W-2 work has gone full 1984 big brother while 1099 work is (in my experience) still mostly the wild west?
I have noticed that W-2 work is moving toward a slavery or feudal model where the Lord of the Manor is very concerned with tiny details of his properties lives. Its not that 1099 work has changed, its more than W-2 work has changed.
(Score: 2) by hendrikboom on Friday August 28 2020, @04:16AM (1 child)
What are W-2 and 1099?
(Score: 2) by VLM on Friday August 28 2020, @12:42PM
In the usa you're a feudal property "employee" with very few workplace rights and no freedoms if you fill out a W-2 income tax form. Think of 1800s era sweatshop workers or year 1900 factory conditions, but in 2020.
If you get a 1099 tax form at the end of the year you're a contractor with vastly more workplace right and freedoms.
(Score: 0) by Anonymous Coward on Thursday August 27 2020, @03:29PM
It may be different now, but when I got my engineering degree in the 80s, going to Community College for two years then transferring to a university saved me a lot of money. The classes at CC were smaller and the teachers more available too vs. the university "weeding out" courses taught by foreign graduate students you couldn't understand. I encountered elitist attitudes only once over my 30 year carreer - at one of the national labs.
(Score: 1) by khallow on Thursday August 27 2020, @06:17PM
First I've heard of this alleged behavior. My take is that the most employers doesn't care how you got that degree. And there's no way that community college is penalized enough to justify two more years of overpriced regular college.