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More than six million graduates cannot pay back their student loans. The economic recession that began in 2008 has made it exceptionally difficult for college graduates to find jobs in their field. The upshot is that students take on lower-paying jobs that do not require degrees in order to make ends meet. Even so, that limited income is, in many cases, not enough to pay back their debt.
One in six default on their loans and a whopping 85% of 2011 college graduates were forced to move back in with their parents after school because they could not afford their own living space.