The economy of the United States is currently in a precarious position. Millions of people are unemployed or underemployed and the unemployment rate is high.
Recent college graduates are finding it very difficult to obtain jobs in todays economic enviroment. It requires more diligence, determination and persistence to successfully find that first employer willing to take a chance on a young person.
Since it is taking longer to find employment, graduates should be allowed a longer timeframe to find a job so that they will have the necessary finances in order to pay back the student loans. A one year timeline will allow the recent graduates to have greater flexibility to become established and will decrease the likelihood of default of the loans.