And how hard is it to land even a minimum-wage job? This year, the Ivy League college admissions acceptance rate was 8.9 percent. Last year, when Wal-Mart opened its first store in Washington, DC, there were more than 23,000 applications for 600 jobs, which resulted in an acceptance rate of 2.6 percent, making the big box store about twice as selective as Harvard and five times as choosy as Cornell.Better to head for college then, right? (For a while, at least.)
Meanwhile, executive footsteps on student loans:
Obama on Monday will announce he's expanding his "Pay As You Earn" program that lets borrowers pay no more than 10 percent of their monthly income in loan payments, the White House said. Currently, the program is only available to those who started borrowing after October 2007 and kept borrowing after October 2011. Obama plans to start allowing those who borrowed earlier to participate, potentially extending the benefit to millions more borrowers.And,
Obama also plans to announce he’s directing the government to renegotiate contracts with federal student loan servicers to encourage them to make it easier for borrowers to avoid defaulting on their loans.
(That's if Walmart didn't want them college grads.)
*Photo credit, top, via topjobapplications.com, Walmart job application; bottom, via StrikeDebtUK, "You are not a loan," student loan protesters with protest banner.