The 36% Mal-employment Rate Affects Fort Worth Title Loan Applicants
Fort Worth,TX (PRWEB) July 17, 2013 -- Fort Worth Title Loans has seen an increase of recent college graduate applicants in 2013 – the marketing team believes the phenomenon is due to the high mal-employment rate described in CNN’s June 25th article “Recent college grads face 36% ‘mal-employment rate’.”
Over a third of recent college graduates hold jobs that do not require a college education, such as foodservice and retail. This percentage does not even include recent graduates, who only hold part-time jobs and struggle to find full-time ones. The director of the Center of Labor Market Studies at Northeastern University, Andrew Sum said,
"Employers are taking college grads over high-school grads, but paying them high-school grad wages.”
As a result, recent college graduates cannot make enough to pay back their student loans, afford to get their own apartments, get married, and start families until they are well into their thirties. The trend also affects those without college degrees because their jobs are taken by the recent college grads.
Fort Worth Car Title Loans notices the effects of this mal-employment rate amongst its young applicants. Many of these underemployed college grads can barely scrape by and often need a loan to afford basic utility bills, car repairs, or suits for interviews. Almost every other loan option requires good credit, and many recent graduates have no credit built up to qualify or have bad credit built up from not being able to pay off student loan debt. Car title loans become the best, and sometimes only, option for them.
Car title lenders provide a service that allows people to use their car title as collateral, without handing over the actual vehicle itself, to get an instant loan. These loans do not require credit checks because the amount given depends on the value of their vehicle, so borrowers who are unable to take out a bank loan can get the financial boost they need within a short 24 hour time period.
Never before has the title loan industry seen such an influx of young college graduates seeking car title loans to make ends meet. Not only that, but a lot of people without college degrees, who are typically the majority of car title loan borrowers, cannot take out a car title loan unless they can prove that they have some source of income, which many cannot. The shifting demographics due to college grad underemployment trickle through the title lending industry at an alarming rate.
Those who are interested in learning more about Fort Worth Title Loans can check out their website and online application.
Laura Janota, Car Title Loans, http://www.fortworth-titleloans.com/, 888.304.2120, [email protected]
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