Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<ul class="summary-list"><li>The <keyword id="19921999" type="General" weightage="20" keywordseo="Education-Department" source="keywords" meta.keywordsubtype="org" meta.entityname="Education Department" meta.hostid="261" meta.entityid="Education Department">Education Department</keyword> said student-loan company MOHELA failed to process <keyword id="23618290" type="General" weightage="20" keywordseo="borrower-applications" source="keywords">borrower applications</keyword> for <keyword id="23618289" type="General" weightage="20" keywordseo="income-driven-repayment" source="keywords">income-driven repayment</keyword> plans.</li><li>The department is not assigning new accounts to MOHELA until it corrects its actions.</li></ul>The Education Department notified <a target="_blank" class="" href="https://www.businessinsider.com/fire-student-loan-company-mohela-remove-borrowers-from-roster-biden-2024-5">student-loan company MOHELA</a> on Tuesday that it would be facing penalties for failing to perform the servicing obligations required in its contract. According to a document from the Education Department reviewed by Business Insider, MOHELA has failed to process over 460,000 applications for borrowers on income-driven repayment plans, preventing those borrowers from accessing more affordable <keyword id="23618291" type="General" weightage="20" keywordseo="monthly-payments" source="keywords">monthly payments</keyword>. The department also said Mohela had failed to stop capitalizing interest on borrowers' accounts, incorrectly marked some borrowers for negative credit reporting, and failed to process forgiveness in a timely manner for borrowers who met the threshold. "The Department continues to take swift action in response to errors that cause confusion or unnecessary difficulty for borrowers," Education Secretary Miguel Cardona told BI in a statement. "<keyword id="23618292" type="General" weightage="20" keywordseo="federal-student-aid" source="keywords">Federal Student Aid</keyword> has determined, through its oversight of federal <keyword id="21652556" type="General" weightage="100" keywordseo="student-loan" source="keywords">student loan</keyword> servicers, that MOHELA has not consistently met the Department's standards for serving borrowers. MOHELA's continued challenges have resulted in less-than-satisfactory quality of servicing for borrowers." The Education Department requested that MOHELA provide a "corrective action plan" within 10 business days, Cardona said, along with weekly meetings with Federal Student Aid to review the servicer's performance . In the meantime, the department will not assign new borrower accounts to MOHELA until it can demonstrate that it can properly serve borrowers, which could impact the servicer's revenue. A Mohela spokesperson told BI that the servicer "is surprised by FSA's sudden change in direction and communication" after the Education Department recently gave it new borrower accounts. "As one of FSA's critical partners and contractors, MOHELA has and will continue to work closely with FSA," the spokesperson said. Since <a target="_blank" class="" href="https://www.businessinsider.com/student-loan-repayment-issues-debt-relief-broken-industry-2023-9">student-loan payments resumed last October</a> after an over three-year pause, MOHELA has been under scrutiny from the Education Department, lawmakers, and advocates over its handling of borrowers' accounts. It was the first servicer to receive a punishment from the department last year — on October 30, 2023, the department <a target="_blank" class="" href="https://www.businessinsider.com/student-loan-company-mohela-late-statements-borrowers-biden-withholding-pay-2023-10">withheld $7.2 million in pay from MOHELA</a> over its failure to deliver on-time billing statements to 2.5 million borrowers. This is the second time Mohela has faced changes to the accounts it manages.In April, the Education Department transferred over 1 million borrowers to new servicers to allow for borrowers to have "the best service." This is the second penalty MOHELA has faced this year.In January, the department <a target="_blank" class="" href="https://www.businessinsider.com/student-loan-borrowers-missing-billing-statements-servicers-punishment-nelnet-mohela-2024-1">withheld pay from the remaining three major federal servicers</a> over failure to deliver on-time billing statements to borrowers. Still, MOHELA has remained in the spotlight as borrowers have continued to report challenges with the servicer, prompting Sen. Elizabeth Warren to hold a hearing in April over the servicer's performance and later calling for the Education Department to consider terminating the servicer's contract altogether. 'We've organized, we've held hearings, we've done everything possible to hold these student loan servicers accountable for their misconduct," Warren <a target="_blank" class="" href="https://www.businessinsider.com/student-loan-borrowers-fire-their-servicer-elizabeth-warren-mohela-navient-2024-9">previously told BI</a>. "And it's beginning to bite. Last year, the department released <a target="_blank" class="" href="https://www.businessinsider.com/student-loan-borrowers-bad-customer-service-education-department-oversight-repayment-2023-11">an accountability framework</a> that outlined enforcement actions it would take over servicers who failed to meet their obligations. It's unclear what action the department will take next over MOHELA if it does not correct its actions. Correction: October 18, 2024 — An earlier version of this story misstated one of the Education Department's accusations against Mohela. The department said the company had failed to process forgiveness in a timely manner for borrowers who met the threshold. The story was also updated to clarify who the Mohela spokesperson said was "surprised by FSA's sudden change in direction and communication." It was Mohela, not the Education Department.

A major student-loan company is being punished for preventing over 460,000 borrowers from accessing cheaper monthly payments

In a bid to support meritorious and deserving Indian students to pursue their higher education without having to worry about funds, the government today announced the <keyword id="23831216" type="General" weightage="100" keywordseo="PM-Vidyalaxmi-scheme" source="keywords">PM-Vidyalaxmi scheme</keyword>. Here's all you need to know about it: The scheme will cover students who secure admission to one of the top 860 higher educational institutions in the country. In effect, this is set to benefit over 22 lakh students annually. You can apply for this loan via a soon-to-be launched consolidated PM-Vidyalaxmi portal. The loan application will be entirely digital and will not require collateral or assets to be pledged in place of a loan or even a guarantor. For loans up to Rs 7.5 lakh, the government will provide a 75% credit guarantee. If your family's annual income is up to Rs 8 lakh, you are eligible for receiving loans up to Rs 10 lakh at an interest rate of up to 3% lower rates. This support will be offered to around 1 lakh students every year, and those who opt for technical or professional courses from government-run institutions will be given preference for the same. The government has already set aside Rs 3,600 crore for the same, to be utilized between 2024 and 2031, benefiting 7 lakh students in this period. All eligible students whose family's annual income falls below the Rs 4.5 lakh threshold will receive a full subsidy on interest payable. As for which higher education institutions (HEIs) will qualify, it will depend on recent NIRF (National Institutional Ranking Framework) rankings. This will include: <ul><li>All centrally governed institutions</li><li>Public and private institutions that have made it to NIRF's top 100 rankings in the overall, category, and domain-specific categories</li><li>All state government HEIs that are ranked between 101 and 200 in <keyword id="22759868" type="General" weightage="20" keywordseo="NIRF-rankings" source="keywords">NIRF rankings</keyword> will also be eligible.</li></ul> <h2>Rising cost of education</h2> Data from NSSO (National Sample Survey Office) highlights that the average expenditure on education in India has doubled in the last decade. Per the All India Survey on Higher Education 2020-21, the tuition fees for engineering courses in most private institutions have already risen by 50% over the past 10 years. Education inflation currently stands high, at about 11–12%. The demand for educational loans is also inching up steadily. Per RBI data, as of September 20, 2024, the total quantum of outstanding education loans stood at Rs 62,389 crore, up 2.8% from Rs 60,715 crore in September 2023. India's largest lender, the State Bank of India, leads the education loan bandwagon, with disbursals worth Rs 10,860 crore in FY24.

Lack of funds stopping you from pursuing higher education? The government can come to rescue

The state of the job market has been worrisome for people across the country ever since companies started carrying out large scale layoffs. In 2022, Twitter (now called X) laid off thousands of employees and eventually, companies like Meta, Google, Amazon, Microsoft and so on also began handing the pink slip to employees. Thousands of people took to social media platforms to share their ordeals. While some have successfully moved on to new roles now, many are still searching for opportunities, elevating competition in the job market. However, the situation isn't so grim everywhere. <keyword id="78512" type="General" weightage="100" keywordseo="iim-calcutta" source="Orion">IIM Calcutta</keyword> students bagged offers worth nearly 2 lakh per month for their summer internship programme. Curious? Read on to know more. The 61st batch of IIM Calcutta's flagship MBA programme saw all 475 students secure internships during the recent placement season. The numbers also speak volumes: a staggering median stipend of ₹2 lakh per month, a record-breaking achievement, and an average of ₹1.89 lakh that closely follows. And it doesn’t stop there—the highest domestic offer came in at ₹3.67 lakh, while international placements soared with top offers of ₹6.75 lakh per month. For many, this success story from IIM Calcutta is a reminder that when it comes to premium talent, there’s always a demand, even when the world feels uncertain. Professor Ritu Mehta, Chairperson of Placement Activities at IIM Calcutta, said as per a report in ET, "The outcome of the <keyword id="23806452" type="General" weightage="20" keywordseo="summer-internship-offers" source="keywords">summer internship offers</keyword> has yet again demonstrated the future readiness of our students in a highly competitive landscape. Globally, there is an ongoing recalibration of managerial jobs and pullback of job postings, hence we are very grateful to our recruiters to repose their trust in our students and our academic processes." Meanwhile, IIM Calcutta said, "The cluster-cohort placement process that involved various policies such as ‘dream offer’ enabled recruiters to find a better student-recruiter fit, making the overall process a win-win for both recruiters and students." For the unversed, IIM Calcutta, established in 1961 as the first Indian Institute of Management, is one of the most prestigious business schools in India and is globally renowned for its academic excellence. Known for its rigorous MBA programme, it has built a reputation for producing leaders equipped with strong analytical and strategic thinking skills. The institute has consistently attracted top-tier recruiters across various industries, and people across the industry keep a close eye during its placement season.

₹1.89 lakh per month for summer internship! Freshers at this institute bag bumper monthly stipend

<ul class="summary-list"><li>Australian prime minister Anthony Albanese said he would cut student debt by 20% next year.</li><li>The move aims to boost "intergenerational equity" amid Labor's tight election race.</li></ul>The Australian government on Sunday announced a sweeping plan to forgive 20% of student debt <a target="_blank" class="" href="https://www.businessinsider.com/australia-student-debt-millennial-loan-payments-2023-6">for around 3 million Australians</a>.The move, which takes effect in June next year if the current Labor government stays in power, would erase around $10.5 billion worth of debt."This will help everyone with a student debt right now, whilst we work hard to deliver a better deal for every student in the years ahead," Australian Prime Minister Anthony Albanese said on Sunday.The government said that the changes would mean the average graduate with a loan of $18,200 would have $3,642 wiped from their bill.The remaining debt would be <a target="_blank" href="https://www.education.gov.au/higher-education-loan-program/making-help-and-student-loan-repayments-fairer">repaid under a new </a>scheme, with a minimum repayment threshold of $44,200.The debt relief is designed to promote "intergenerational equity," Albanese told Australian Broadcasting Radio on Monday, according to <a target="_blank" class="" href="https://www.bloomberg.com/news/articles/2024-11-02/australia-plans-10-5-billion-in-student-debt-cuts-to-ease-costs?srnd=israel-hamas-war&amp;embedded-checkout=true">Bloomberg</a>."We know that 80% of the children who are in primary school today will need either a university degree or a Technical and Further Education qualification, not as an added bonus for their employment, but as a precondition to getting a job because of the changes that are happening in the economy."It is likely also designed to boost support for the Labor government, which has been waning due to high inflation, high costs of living, and a housing shortage. A federal election is expected in May 2025.However, not everyone is convinced it's the right move.Andrew Norton, a Professor in the Practice of higher education policy at the Australian National University, said future debt should also be reduced."The last few years have highlighted how stressful and damaging high levels of student debt can be for younger Australians," he wrote in <a target="_blank" href="https://theconversation.com/albanese-flags-radical-changes-to-student-debt-with-a-20-overall-cut-and-drop-in-payment-rates-242740">The Conversation.</a>"However, the Albanese government's plan comes with a high price tag and the priorities may not be entirely right," he added."Managing future debt, such as by reversing fee hikes <a target="_blank" href="https://theconversation.com/the-universities-accord-should-scrap-job-ready-graduates-and-create-a-new-multi-rate-system-for-student-fees-203910">under the Job-ready Graduates program</a>, is as important as reducing old debt."Richard Holden, a professor of economics at the University of New South Wales, said the changes would not ease students' cost-of-living pressures."It doesn't feel like it moves the needle," he told <a target="_blank" href="https://www.abc.net.au/news/2024-11-04/economic-impact-of-hecs-repayment-debt-reduction/104557004">ABC News</a>. "It's not like taking 20% off someone's mortgage or car loan, so I don't see it having a big effect."In the US, the average student loan balance is around $38,000.However, Biden's efforts to grant broad student loan relief have hit several stumbling blocks. The administration has introduced incremental batches of relief over the past few years.As Business Insider's <a target="_blank" class="" href="https://www.businessinsider.com/student-loan-forgiveness-pslf-more-borrowers-approved-debt-cancellation-biden-2024-10">Ayelet Sheffey reported,</a> Biden's second attempt at broader student-loan forgiveness <a target="_blank" rel="" class="" href="https://www.businessinsider.com/student-loan-borrowers-first-lawsuit-broad-debt-cancellation-biden-relief-2024-9">is stalled in court.</a>Donald Trump and Kamala Harris have focused mainly on <a target="_blank" class="" href="https://www.businessinsider.com/trump-deportation-immigration-policy-election-housing-home-prices-construction-costs-2024-10">immigration</a>, taxes, and the <a target="_blank" class="" href="https://www.businessinsider.com/election-preview-consumer-outlook-how-trump-harris-housing-taxes-2024-11">economy</a> during their presidential campaigns, likely due to multiple polls indicating a downturn in interest on the issue.Biden's Education Department is continuing to work on debt relief proposals; if finalized, <a target="_blank" class="" href="https://www.businessinsider.com/student-loan-forgiveness-plan-borrowers-facing-financial-hardship-education-department-2024-10">the latest one</a> would benefit 8 million borrowers facing hardship.

Australia announced a sweeping plan to forgive 20% of student debt

<ul class="summary-list"><li>As college tuition fees soar, more American students are going abroad.</li><li>Beyond cheaper tuition, college abroad can offer multiple benefits, including exposure to new cultures.</li></ul>When it was time for Liza Jean Miezejeski to start thinking about college, she couldn't stop worrying about <a target="_blank" class="" href="https://www.businessinsider.com/professor-student-loan-debt-suddenly-forgiven-2024-8">student debt</a>."Every time I looked, there were schools that seemed interesting, but none that was worth going into debt for," she told Business Insider.One day, while in the car with her mom, she heard on the radio that Americans were moving to Germany for free education. It sounded like a dream to her: a chance to live abroad and earn an affordable college degree.Miezejeski, then a sophomore at a Connecticut high school, started to look into it seriously. She ended up <a target="_blank" class="" href="https://www.businessinsider.com/american-gen-z-college-europe-university-abroad-prague-brussels-affordable-2024-8">attending a university in Prague</a> and then moved to Brussels for graduate school. She graduated from both schools with no debt.Miezejeski is not alone. Like her, more American students are looking abroad to complete their college education.While<a target="_blank" href="https://www.businessinsider.com/nyu-student-hated-study-abroad-semester-florence-italy-2023-3"> study abroad</a> programs — which allow students to spend a semester or a year overseas — are nothing new, completing a full degree outside the US has been gaining popularity.A representative for the Institute of International Education, a nonprofit exchange organization based in New York, told BI the number of US-based students who went to college abroad has increased in the last year. "Most US colleges and universities anticipate increased or stable student participation in study abroad in the forthcoming 2024/25 academic year," the representative said. They said this includes students in non-exchange programs and those pursuing degrees overseas.James Edge, the owner of Beyond the States, a platform that helps students apply to bachelor's and master's programs abroad, said he's seen a 5 to 10% increase in students pursuing degrees abroad each year since he joined the company three years ago.Greg Kaplan, a private college admissions counselor and the author of "Earning Admission: Real Strategies for Getting Into Highly Selective Colleges," said interest has increased tenfold over the past six years. "Six years ago, if we had one student applying abroad, it was interesting," he said. Now, out of the 350 high school students his company works with yearly, 10 to 20% apply to college abroad, he said.There are several reasons for this, from an interest in specific programs to a desire to explore the world. But above all, experts and students alike have echoed the same sentiment: <a target="_blank" class="" href="https://www.businessinsider.com/college-tuition-costs-too-much-make-degrees-matter-less-jobs-2023-9">college in America is too expensive</a>.<h2 id="8e99aa2f-2e09-4281-86df-d39f0ee659f3">The skyrocketing prices of college in the US</h2>According to the<a target="_blank" href="https://nces.ed.gov/ipeds/Search?query=college%20tuition&amp;query2=college%20tuition&amp;resultType=all&amp;page=1&amp;sortBy=relevance&amp;overlayDigestTableId=202707"> National Center for Education Statistics</a>, students in the US spent an average of $28,297 a year — or around $113,188 for a four-year program — on tuition and required fees at public out-of-state schools in the academic year of 2022 to 2023.These fees have risen over the years. The <a target="_blank" class="" href="https://www.usnews.com/education/best-colleges/paying-for-college/articles/see-20-years-of-tuition-growth-at-national-universities">U.S. News &amp; World Report</a> found that among the 436 colleges in its annual rankings, out-of-state tuition fees at public universities have risen by around 32% over two decades after adjustments for inflation. The same report showed that in-state tuition fees at public universities have grown by 45%.And <a target="_blank" class="" href="https://www.businessinsider.com/cost-us-universities-wildly-expensive-education-tuition-fees-america-2024-3">private colleges</a> in the US can cost more than twice that much. Tuition this year at <a target="_blank" class="" href="https://seaver.pepperdine.edu/admission/financial-aid/undergraduate/costs/budget-costs.htm">Pepperdine University</a> in Malibu, which is ranked as one of the most expensive schools in the country, is $65,990."That sticker shock is very potent for families," said Robert Harry, an associate director of college counseling at Kent School, a boarding school in Connecticut.Harry estimates that in his 15 years of experience, the number of kids who went abroad for college increased from around 1% of any given high school class to as much as 5 or 10% of a class.<h2 id="da752867-c83d-49cb-9f93-4e420a8dea12">Many have their eyes set on Europe</h2>College in Europe has become an attractive alternative. For one, tuition is generally cheaper. <a target="_blank" class="" href="https://beyondthestates.com/">Beyond the States</a> lists the average tuition fee for European bachelor's programs as $7,390 a year for international students. The average is based on calculations from its database of 12,600 English-taught bachelor's programs in Europe. In some countries, like <a target="_blank" class="" href="https://www.businessinsider.com/moved-to-germany-from-us-school-almost-deported-dont-regret-2023-11">Germany, public college education is free</a>, even for international students.Many European university degrees often take three years to complete, so it's also one less year of college tuition to pay for. "You get an extra year of your life back," Edge said.American students often turn to English-speaking destinations like the UK and Ireland for their education abroad. However, college advisors said other European and Asian countries, like the Netherlands and Japan, that offer English-language programs are also gaining popularity.<h2 id="c8d0dc93-f262-4e4f-96d1-cf7969c1161f">The rise in interest comes as US applications become more competitive</h2><div type="image" title="A girl and her brother on a bridge in Toulouse, France" height="900" width="1200" msid="114566917" hostid="261" sizebytes="90356"></div>In 2019, Jacob Zeidberg <a target="_blank" class="" href="https://www.businessinsider.com/american-couple-sent-both-kids-college-europe-france-spain-cost-2024-7">applied to almost 30 schools</a> in the US. He was waitlisted or rejected from all of them.A <a target="_blank" class="" href="https://www.commonapp.org/files/FY_application_trends_end_season_report_23-24.pdf">2024 report from Common App,</a> a college application platform, showed that application volume has grown by 171% since the 2014-15 academic year. The number of applications per applicant has risen by 46% in the same timeframe, now totaling 6.65 applications per person."When the Common App became ubiquitous, it started to get <a target="_blank" class="" href="https://www.businessinsider.com/more-competitive-than-ever-get-into-college-admissions-2024-1">really hard to get into American institutions</a> just because it's so much easier to apply to so many more of them," Harry said.It's pushed some parents and students to look elsewhere.For many, Europe is the answer. "Even if you haven't done all the extracurriculars, or if you haven't taken the SATs, it is much easier to get accepted to school in Europe because the way they do admissions is slightly different," Edge, owner of Beyond the States, said.For example, he said they may focus more on the student's academic strengths than on standardized tests.Zeidberg eventually applied to Toulouse Business School in France. He said the application process was smooth and efficient, and he was accepted two weeks later."It was like night and day," his mom, Jennifer Zeidberg, told BI.<h2 id="ea928511-b08c-486a-a718-951d6f05e28a">The benefits of college abroad go beyond cost</h2>In many US colleges, students declare a major after their freshman year. Many colleges outside the US are more specialized.That system appeals to many people who are sure of their interests. "If you are definitely a math person, knowing that you can do three or four years of math and never have to write another English essay — it's intriguing for people," Harry said.Scarlett Kiaras-Attari, who grew up in Kentucky and <a target="_blank" class="" href="https://www.businessinsider.com/american-student-romanticized-uk-edinburgh-scotland-oxford-college-university-london-2024-8">moved to Scotland in 2018</a> for undergrad, was one of them. "I was so interested in medieval history and Classics," she told BI. "I just knew that there was no other place that I had applied to that was really going to capture that the way that I thought Edinburgh could."<div type="image" title="A girl poses in front of Oxford University" height="2268" width="3024" msid="114566921" hostid="261" sizebytes="556072"></div>Some students also seek niche fields that can only be found abroad. Kaplan, for example, had a student who turned down programs in the US because he wanted more exposure to Formula 1 racing, which is primarily rooted in Europe. He ended up studying motorsports engineering at Oxford.For many, being able to travel easily is also a huge plus."You can just pop on a train and go right next door to Portugal or France, for example. There's just so much more opportunities for cultural engagement," said Edge.<h2 id="47862e7c-8637-4709-bca9-9464a643493b">Important considerations</h2>Although tuition fees are usually lower, college advisors said that students going abroad have to consider other costs, such as visas, daily expenditures, rent, and flights back home.They should also consider the emotional impact of moving abroad.<div type="image" title="A girl posing in front of a castle in Germany" height="903" width="1204" msid="114566918" hostid="261" sizebytes="234730"></div>Amanda Mrozek, who withdrew from Central Michigan University in her third year and moved to Germany to get her degree in 2021, <a target="_blank" class="" href="https://www.businessinsider.com/american-moving-germany-college-university-things-to-know-2024-7">struggled with cultural differences</a>.For example, her college in Germany lacked school spirit and a sports culture, she said. Most students also lived off-campus and went straight home after class instead of hanging out on campus."It's just not fun," she previously told BI. "I understand people will say, 'You're supposed to be learning.' But at least for me, I can learn better when I'm enjoying something about it."Harry often tells <a target="_blank" class="" href="https://www.businessinsider.com/guide-moving-abroad-for-college-according-to-university-advisors-diploma-2024-9">students</a> they won't have a typical American college experience abroad and that they will often be in the minority of kids who go abroad."Recognize that your experience is going to be a bit different, but it doesn't mean it's any less rich or rewarding," he said.<div type="image" title="Girl sits by the window with her book in Italy" height="1886" width="2515" msid="114566920" hostid="261" sizebytes="312546"></div>In the years since graduating from high school, Miezejeski only knows of three other high school classmates who left the US: one went to Canada, and two others went to the Netherlands and Italy to study. But most of them stayed in Connecticut or studied in nearby cities like Boston and New York. Where she's from, it's not common to go abroad, but it's a slow trend, she said.Since completing her degree in 2021, she hasn't looked back.She decided to stay in Europe and pursue a master's degree in Brussels. Her master's program was one year long and cost around $4,700 — almost a fifth of what she would have paid if she had pursued a master's at the University of Connecticut, a college in her state, based on the <a target="_blank" class="" href="https://bursar.uconn.edu/tuition-fees/graduate/2024-2025/">university's website</a>.More importantly, Miezejeski gained experiences money can't buy."I have friends now all over the world," she said. "I've learned about all their cultures, how they do things and their languages. I've met incredible people and learned so much. The learning does not stop."

College in the US was too expensive, so these students opted for Europe

<ul class="summary-list"><li>A millennial with a doctoral degree and over $250,000 in <keyword id="419611" type="General" weightage="100" keywordseo="student-loan" source="Orion">student loan</keyword> <keyword id="44647" type="General" weightage="20" keywordseo="debt" source="Orion">debt</keyword> said she can't find a job.</li><li>She's looking for business jobs while working in a healthcare role to help pay the bills.</li></ul>Over the last decade, A. <keyword id="23550886" type="General" weightage="20" keywordseo="rasberry" source="keywords">Rasberry</keyword> has placed a great deal of value on <a target="_blank" href="https://www.businessinsider.com/personal-finance/student-loans/is-college-worth-it">higher education</a>. She's now come to regret it. Rasberry earned a bachelor's, master's, and doctorate degree in <a target="_blank" href="https://www.businessinsider.com/google-ibm-accenture-dell-companies-no-longer-require-college-degrees-2023-3">business management</a> from <keyword id="23550889" type="General" weightage="20" keywordseo="saint-leo-university" source="keywords">Saint Leo University</keyword> in Florida. However, she said she's <a target="_blank" href="https://www.businessinsider.com/job-market-unemployment-rate-interest-rates-fed-cuts-outlook-economy-2024-9">struggled to find a job</a> in her field of study over the last four years. Additionally, she has over $250,000 in student loan debt, according to a document viewed by <keyword id="19935969" type="General" weightage="20" keywordseo="business-insider" source="keywords">Business Insider</keyword>. "I graduated with my doctoral degree in 2020 and can't find a job to save my life," the Virginia-based 38-year-old told Business Insider via email. She asked for partial anonymity, only using the first initial of her first name and her last name, due to privacy concerns. Since earning her doctoral degree, Rasberry has applied for various business management roles but had little success. She said she's been forced to expand her job search and explore a new career in <a target="_blank" href="https://www.businessinsider.com/travel-nurse-earning-187k-salary-degree-works-9-months-2023-4">nursing</a> to help her make ends meet. "I thought <keyword id="6355445" type="General" weightage="20" keywordseo="education" source="Orion">education</keyword> was the road to financial freedom," she said. "But I was wrong." Rasberry is among the Americans who are having a tough time <a target="_blank" href="https://www.businessinsider.com/millennial-looking-job-cant-get-hired-college-degress-entry-level-2024-7">finding work</a>. In part, it's because businesses across the US have significantly <a target="_blank" href="https://www.businessinsider.com/jobs-recent-college-grads-hiring-slowdown-unemployment-higher-than-population-2024-9">scaled back on hiring</a> over the past two years. The ratio of <a target="_blank" href="https://www.businessinsider.com/cant-find-job-masters-degree-running-out-savings-gen-x-2024-9">job openings</a> to unemployed people — an indicator of job availability — has declined considerably. While the <a target="_blank" href="https://fred.stlouisfed.org/series/UNRATE">unemployment rate</a> and <a target="_blank" href="https://fred.stlouisfed.org/series/JTSLDR">layoff rate</a> remain low compared to historical levels, the hiring slowdown means that many job seekers are having a considerably harder time than they were a few years ago. Rasberry shared why she thinks her job search has been so challenging, how she made her career pivot, and her top piece of advice for people pursuing higher education. <h2>"Most organizations prefer experience over education"</h2>After receiving her doctorate degree, Rasberry's initial goal was to land an <a target="_blank" class="" href="https://www.businessinsider.com/college-adjunct-professor-salary-not-enough-live-student-loan-debt-2024-6">adjunct professor</a> position. However, after speaking with people in the education field, she decided to change course. "I've learned how difficult it is to get started in the field," she said. "Essentially, after earning a doctoral degree, I would have to go back to school to take more courses to support a teaching career." She said she was told she'd specifically need more education-related credits. As a result, Rasberry said she decided to give up on teaching and focus on finding other roles in her area of study: business management. But her job search has been challenging. Rasberry said she hasn't landed many interviews, and that when she does — and gets turned down — she's had a hard time figuring out what went wrong. She said she's expanded her job search to non-managerial bookkeeping, accounting, tutoring, and human resources roles, but that she hasn't had much luck with these either. Rasberry said she thinks the biggest obstacle in her job search is her lack of work experience. While pursuing her degrees, she said she gained some entry-level work experience in banking, human resources, and bookkeeping roles. However, she thinks this experience might be insufficient in the eyes of employers. "I am over qualified for most entry-level positions but I am under qualified for management or leadership positions," she said. "Ultimately, my degree has been both a blessing and a curse." Rasberry said her top piece of advice for people who pursue higher education is to do your homework. Before she pursued her degrees, she said she wished she had spent more time evaluating her school's job placement programs, internship partnerships, and the employment rates of recent graduates across different fields. Additionally, she recommended taking time to think about the value of a college degree and the best ways to use it to land a job. "I learned most organizations prefer experience over education," she said. "Had I known that I would not have spent so many years in college." <h2>A healthcare job is helping to pay the bills during her job search</h2>In recent years, Rasberry said she's worked various part-time jobs to pay the bills. "It feels next to impossible to work a single job and earn enough money to cover essentials like rent, fuel, electricity, etc. in the state of Virginia," she said. One analysis found Virginia was the <a target="_blank" class="" href="https://www.businessinsider.com/most-least-expensive-states-household-bills-hawaii-california-west-virginia-2024-6">13th-most expensive</a> state when it comes to overall cost-of-living. At the same time, she's also exploring another field: healthcare. Rasberry said that for roughly the past year, she'd been working as much as 80 hours a week as a direct care liaison. She said this involves reviewing the healthcare needs of patients and detailing the support they need. "I am new to nursing, but I find it rewarding and I like the shift flexibility," she said. Rasberry said she found a nursing role that provided free training and certification. However, she said the downside was that this certification wouldn't carry over to any other employers — limiting her opportunities in the industry. This is among the reasons she hasn't stopped applying for business-related jobs. Another reason is that she doesn't think she was paid particularly well in her direct care liaison role — she said she was earning $21.50 an hour. Despite the long hours, she said the low pay is why she didn't view it as a full-time job. "It doesn't come with full time pay," she said. In recent months, Rasberry said she began focusing more on looking for remote roles like the <keyword id="23550888" type="General" weightage="20" keywordseo="turbotax" source="keywords">TurboTax</keyword> opportunity. She said working remotely would make it easier to keep herhealthcare job, reduce her commuting costs, and care for her dog. Over the last month, Rasberry finally had some luck in the job market. She said she landed a remote plan consultant position in the nursing field that pays about $70,000 a year — equivalent to an hourly <a target="_blank" class="" href="https://www.gobankingrates.com/money/jobs/70000-a-year-is-how-much-an-hour/">rate</a> of over $30 an hour. While she views this as a positive development, she said she will "absolutely" continue searching for higher-paying roles in her field of study. "When I'm not working, I'm online, putting in applications for employment," she said. Correction: October 9, 2024 — An earlier version of this story misstated the type of degree Rasberry earned and her title. She earned a doctorate in business administration, not a Ph.D., and she's a care plan consultant, not a nurse.

A millennial with a doctoral degree and over $250k in student loan debt says she's been looking for a job for 4 years. She wishes she prioritized work experience over education.

You Searched For "students" and got 6 results

A major student-loan company is being punished for preventing over 460,000 borrowers from accessing cheaper monthly payments

Ayelet Sheffey

Lack of funds stopping you from pursuing higher education? The government can come to rescue

BI India Bureau

₹1.89 lakh per month for summer internship! Freshers at this institute bag bumper monthly stipend

Divyanshi Sharma

Australia announced a sweeping plan to forgive 20% of student debt

Hannah Abraham

College in the US was too expensive, so these students opted for Europe

Erin Liam

A millennial with a doctoral degree and over $250k in student loan debt says she's been looking for a job for 4 years. She wishes she prioritized work experience over education.

Jacob Zinkula

Popular Keywords

Buying Guides