Getting a job after graduating in Africa is not a walk in thepark and finding a job doesn’t mean success. Most graduates find themselves in debt even after finding good jobs working for the government. Different factors play a role in the debt trap of a graduate. Let’s have a look at a few.
The education system
Most graduates are studying to find jobs because that is how the system is. Schools don’t teach learners how to create employment and it is causing a big problem because there are only job seekers and no job creators. More than a thousand graduates can apply for one job position advertised in a newspaper and more than half can be called up for an interview. It would be much better if schools teach learners how to manufacture instead of teaching theory.
Finding a job with a degree from university might get you a better salary than most people, however, you might still find yourself struggling to upgrade your living standards. Most graduates find themselves living in one-bedroom flats for at least ten years while working for the government. In order to buy a car or a house they take out loans from the banks and it can take twenty years to pay off a loan for a house, which means they will be in debt at least until the age of fifty.
In most cases, your family is looking up to you to take them out of poverty, and when you finally get a job, the cheque is split a lot of ways, leaving you with very little money to save every month. Sometimes your family borrows money to pay for your studies and will need to pay it off after you’re done studying. Life becomes even harder because you’ll probably need to borrow money just to get married and such events.
Debts after graduation are slowly becoming part of life. Doing some extra businesses outside your profession can help a lot, don’t become part of the masses, always look for a different way and learn to see problems before they arrive.