Graduate Student Debt Matters

Like undergraduates, most graduate students take out loans to finance their studies. Their debt loads are increased by rising tuition costs, but without the same hope for a compensatory high salary that motivates millions of undergraduates to borrow large sums. The scandalously small percentage of Ph.D.'s who land tenure-track jobs is no longer news, of course. But even tenure-track jobs are not lucrative enough. For a would-be academic, grabbing the brass ring—that is, getting a professor's job or some other intellectually rewarding position—can lead, instead, to a lifetime of debt servitude. Graduate Student Debt Matters