As President Joe Biden forgives another $1.2 billion in student loan debt for 150,000 borrowers, a new report shows getting a college degree doesn't always equal finding a job.
The "Talent Disrupted" report from Strada Education Foundation found that only half of bachelor's degree graduates had employment in a college-level job within a year of graduation.
A college-level job is a job in occupations that typically requires a four-year college degree, according to Strada.
"While a college education is still worth it for the typical graduate, it is not a guarantee: college students face an increasing degree of risk. One of the biggest risks students face is that their degree will not provide access to a college-level job. Today, only about half of bachelor’s degree graduates secure employment in a college-level job within a year of graduation," the executive summary reads.
Another major issue is underemployment, according to the report.
Strada found that 52% of graduates are underemployed a year after graduation, and even a decade after graduation, 45% of graduates are still underemployed. That means they are working in jobs that don't typically require a bachelor's degree, according to Strada.
The report also said that the first job is critical, as those who start out in a college-level job rarely move into underemployment, and 79% stay in a college-level job five years after graduation. Of those 79%, 86% were still in a college-level job 10 years from graduation.
You can read the entire report below.
Talent Disrupted report from Strada Education Foundation by WXYZ-TV Channel 7 Detroit on Scribd
