SoFi Blog

Launching a startup always feels somewhat risky. Launching a startup when you have student loan debt to pay? That can feel downright dangerous.

Elena Lucas knows the feeling well. Despite owing what she calls “Monopoly money” worth of college and graduate school debt, Lucas turned down a secure position with a large solar company to co-found UtilityAPI, a renewable energy software company. “It was a leap of faith,” she remembers, “but I had to give it a go.”

Name: Melissa Stanton

Locale: Norfolk, VA

Alma Maters: Michigan State University and Eastern Virginia Medical School

By Day: Physician’s Assistant

By Night: Marketing, Promotions, Accounting, Retail

SoFi Member Since: 2015

SoFi Savings: ~$12,600 on a 7 Year Student Loan Refi

For young professionals today, there’s been a “good news, bad news” financial scenario developing for a while now.

Good news first: The unemployment rate for college grads, ages 22-27, is finally on the decline. Recent data from the New York Fed outlines a 7.1 percent unemployment rate in March 2011 and a 4.9 percent in 2015.

The bad news? Despite the fact that there are more jobs available for younger workers, widespread wage stagnation and decline has made it hard for 20- and 30-somethings to play financial catch up. Add to that a record volume of student loan debt, and you’ve got an entire generation suffering from a generational “wealth gap.”

It’s that time of year. News has been abuzz with college acceptances—from Brittany who wrote a kickass personal statement (about Costco) to Kelly who got into all eight ivy league schools.

As the (you did it!) letters roll in, we’re sharing some stats that might help the soon-to-be-undergrads make a decision about where to go.

Have you ever caught yourself thinking, “I’d be happy at work if only I got a promotion/made more money/did something I’m more passionate about”?

Or maybe you read stories about people who are getting paid to pursue their dreams and think, “Why can’t that be me?”

Well, if it’s any consolation, you’re certainly not alone. Total career happiness is hard to come by.

So what gives? Are some of us just doomed to be unhappy at work forever?