Despite the economic recession, it is not all that difficult to get a loan when times are tough. The hard part is being able to pay back those loans, in full, and in a certain time frame. And among those struggling the most are recent college graduates who can’t find jobs. In fact, so many things have to go right for things to be uncomplicated for a college graduate since the recession. Without a paycheck, the student loans quickly become a huge burden.

With the Baby Boomer generation retiring at an older age, it is increasingly difficult for college graduates to find jobs. In fact, according to a report from MSNBC, in 2009 “employers would hire 22% fewer college graduates than in 2008.” Additionally many baby boomers are stalling retirement because the financial recession wiped out many of their 401K retirement plans. Along with the financial crisis comes federal budget cuts, which is reducing the number of jobs available, especially toward those fresh out of college.

Another financial burden for college students is the cost of health insurance. Bowling Green State University School Health Director Dr. Glen Egelman stated that “some universities are requiring that students have health insurance before they are admitted to college, and if they don’t, they must buy into the school’s student health care plan or obtain their own insurance.”

Julio Manceras, a former student at the University of Texas, knows all too well what student loans, federal budget cuts and lack of health insurance can do to a college student. At the age of 19, Julio was hospitalized and diagnosed with a severe health condition known as “Supra-Ventricular Tachycardia, a condition that occurs when one’s heart has irregular electrical pathways.”

After Julio’s tenth stay in the hospital, his medical costs exceeded $500,000.00 because his family did not have health insurance. The hospital wanted to apply the financial aid from UT towards his medical costs, but because his student loans were funded through federal grants, it made it impossible. Like most college students who are legally considered adults, Julio was ineligible for Medicaid.

At www.gobankingrates.com, four steps of advice are given to college-bound students and recent college graduates. When applying for college, always look at schools with lower tuition rates, scholarship opportunities and apply for FASFA as soon as possible. Once in college, think about internships to get some experience in your career field. Set budgets for yourself by thinking down the road rather than spending impulsively.

Additionally, have a back-up plan, if you can’t find a job immediately after graduation, whether it’s to move back home, make a savings account, or get an internship. Lastly, once you find a job, focus on those student loans and your basic expenses, and for the rest of it, save as much as you can.

Julio Manceras is now approaching graduation as a pre-med student at Texas Christian University, and through his xperiences, has decided to become a doctor. Manceras said, “through my hardships of problems and observing my environment, I wanted in return to give the care many people cannot afford.”

Let’s see if others will be given the financial care and opportunity they deserve. Not just in the medical field, but in every field that every college graduate pursues as a career.

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