College graduates are dealing with more debt and hiring slump– which is not a great combination. Nevada-based 8 News Now interviewed college student Raven Reid, who spends a lot of time adding up her student loans. “I wouldn’t be able to pay for books or anything. My mom’s a single parent, and she lives in L.A., and I don’t like to ask her for money and things like that,” she told the TV station. “I hit my max last year, so I think that was about $6,000. So, $12,000 so far, and I still have another year.”

Project Student Debt says students carry an average of $24,000 in student loans according to 2009 numbers. In total, student loan debt is expected to top a trillion dollars in 2011 which is an all-time high. It also happens to be beating credit card debt for the first time ever. “I’ve had to resort to taking out a personal student loan in my name, which was $15,000,” student Nicole Hurley told 8 News Now. “At the end of school next month, I’m graduating, and I’ll be $40,000 in debt for student loans.”

Lawmakers are considering cuts to the federal Pell Grant, a $5,500 reward millions of students rely on each year. If cut, roughly nine million students could be impacted. Combine that with tuition hikes and rising unemployment rates, and many college students are facing a trio of downfalls. But a college degree will still serve them better in the long run– at least that’s what most students are hoping.

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