1 in 2 college grads are without jobs or underemployed
The link is to an AP study so I won't quote directly from it. But the bottom line is that, after going to college and getting a degree in the arts or humanities, the chances of getting any kind of well paying job when you graduate that will help ease the student debt burden are practically nil.
Young graduates with a bachelors degree are likely to be working as baristas, waiters, waitresses, or other low paying jobs. This is partly the result of the elimination of mid-level management positions as well as jobs becoming far more specialized so that a creative writing degree gets you absolutely nowhere in the labor market.
About 1.5 million or 54% of bachelor degree holders were jobless or underemployed. That's the highest number since 2000 when the do com bubble burst and opportunities for graduates dried up. And it's only going to get worse. The government estimates that by 2020, out of 30 occupations with the largest number of job openings, only 3 will require a college degree. Most jobs are expected to be in professions such as retail sales, fast food and truck driving - jobs which aren't easily replaced by computers.
One interesting stat; students from southern states are more likely to be employed and in higher skilled jobs than other areas of the country. The Mountain West does the worst in this regard.
I'm glad I'm not in college now. If I were, I wouldn't have majored in Fine Arts. Those who did, or majored in the humanities, are virtually unemployable as a skilled, high paying worker in this economy and may as well go back to school to acquire a useful skill. Or face the fact that for the rest of your life, you'll be barely making minimum wage.