Keeping Debt Levels Manageable
Whatever amount of debt you graduate from college with, you need to make double that amount in your salary. The average debt load for graduating undergraduates at the University of Minnesota is around $20,000, which means you will need an annual salary of $40,000 or more to afford to repay your debt and cover average living expenses.
An excellent way to manage your borrowing in college is to first determine what your starting salary will be. The Occupational Outlook Handbook at the U.S. Department of Labor Web site is updated annually and lists all careers alphabetically. It includes potential earnings based on education level, job growth in the field as well as basics of what to expect when you start work.
How much income does it take to support your loan debt? How much can you afford to borrow before it becomes too costly? Use this Debt-salary wizard to determine how much you need to earn to pay off your loan debt.
Minnesota job opportunities
Go to iSeek for a Minnesota-based job search website that also offers good information on exploring career options and educational requirements.