By Mario A. Cortez 
The class of 2016 has already thrown their caps into the air and has now begun to look for ways to pay back debt from student loans.
The class of 2016 is expected to be the most indebted in the history with a average individual debt of approximately $37,000, a 6 percent increase from 2015’s average graduate debt. However, the debt carried by many students studying at private universities can often reach $100,000 and even surpass $200,000 in some extreme cases.
Despite this, not everything is bleak for the class of 2016. Starting salaries have been climbing for the first time in years. Last year, the average starting salary for a graduate was of $43,000 according to an article published by the Federal Reserve Bank of New York.
The job market for graduates is also at its most attractive in years. The nearly 2 million students graduating this year can look forward to a projected 5 percent increase in hirings reported by the National Association of Colleges and Employers.
Also, unemployment for bachelor’s degree holders over the age of 25 is currently at 2.4 percent, half as low as the Bureau of Labor Statistics’ most recent estimate of 5 percent.
Despite the optimistic numbers, not everyone is forecasting clear sailing for the class of 2016. According to a study published last month by the Economic Policy Institute think tank, the class of 2016 will be entering a market with stagnant wages. The total number of graduates who are idle, being neither employed nor in school, has risen to 10 percent, up from 8.4 reported in 2007.
Despite this, four out of five graduating students stated that job availability in their field of study was a factor in deciding on a major which leads to confidence in their career choice and financial ability to pay back loans. According to a report published by NBC this week, 21 percent of the class of 2016 accepted a job before graduation, a significant jump from last year’s 12 percent.