Seeing a recent college graduate can be energizing. You look at her and you see the excitement in her plans for the future. She has worked hard over the last few years and she is eager to get into a career. If you are experiencing this with a recent college grad then she has beaten the odds. For many college graduates, especially those with mounting debts, bankruptcy can be on their minds too often as landing their first salaried job. Recent college graduates bankruptcy rates are expected to rise in the next few years.

Sadly there isn’t going to be as much good news for many in the class of 2011 as there wasn’t for those in the past few year. The class of 2010 and class of 2009 have similar stories to tell. Ever since the great recession hit a few years back, the job market has radically changed. The college graduates of today were just starting in school when the economy soured. It is unlikely back then as they were thinking of what their major was going to be that they could picture the world that awaited them when they got out.

The average student that has graduated college in the last few years has magnified disadvantages over their peers. It seems like the costs of everything has gone up and their ability to afford the things expected by their peers is becoming tougher. Consider these debt-related challenges associated with recent college graduate increases in bankruptcy filings.

1. Higher credit card debt
2. Lower salaries (entry level)
3. High student loans

For those students self-funding their education, keeping up with rent, and automobile, cable, internet and phone service is much more expensive than a student attempting the same just 10 years ago. Worst, the ability for a student of today to afford these things is not dramatically higher. For many recent college graduates, bankruptcy is becoming an option that they did not expect to consider.

For those students that did get an entry level job, it is unlikely that it is much higher than the entry level positions offered in the last few years. Add in gas that can easily top $4 a gallon at times, inflation in food prices and a requirement to keep up with minimum credit card payments and you have a stressful situation.

Flip through your television and it is hard not to see commercials encouraging college enrollment. Most people know that they will statistically make more money over a lifetime with a degree. What people don’t always factor in is the amount of debt it will take to get you out of school. For those college graduates considering bankruptcy, it is important to remember that student loans are almost impossible to be dismissed. You will have to pay those loans back. If you are facing student loans that are unable to be paid, try to talk to the company holding the loan. Sometimes loans can be deferred for a period of time.

It is important to pay your debts to the best of your ability. With high unemployment and graduates with 2-3 years of experience coming for entry level jobs that recent graduates are seeking, keeping up with living expenses, plus any credit card debt can be difficult. It is going to be tough. Avoid bankruptcy if you can. If you feel that all options have been explored, contacting a Georgia bankruptcy lawyer can an option worth exploring