The average debt for UW-Madison graduates continues to increase, according to a recent report released by the Project on Student Debt.
The report revealed graduates in Wisconsin faced an average of $23,200 in debt, which is up from $18,650 in 2004.
At UW-Madison, 52 percent of 2008 graduates were in debt, and the average amount was $21,250.
Steve Schroeder, director of the UW-Madison Business Career Center said despite the increase in average debt, he believes taking out loans to receive a college education is still worth it.
""It's definitely a tough time, but the economy is cyclical, and things are going to get better,"" he said.
The report also revealed unemployment rates for college graduates aged 20-24 rose from 7.6 percent in the third quarter of 2008 to 10.6 percent in the first quarter of 2009.
Schroeder said although unemployment is on the rise, UW-Madison School of Business graduates are still getting jobs, just not as many offers.
He said two years ago, graduates were receiving up to five or six job offers, but now he said graduates are receiving closer to one or two.
""There are still some companies that are hiring, it's just harder to find them,"" he said.
According to Schroeder, because of this, companies are receiving more applicants for each job opening, which means graduates need to ensure their applications stand out.
""It's sort of like that needle in the haystack, you need something that is going to set you apart from everybody else,"" he said.
