Many college students are struggling to pay back student loan debt due to lower paying jobs and difficulty in finding a job in this economy. The average college student graduates with over $20,000 in student loan debt and many also have credit card debt. It can take an entire lifetime to pay back student loan and credit card debt if you just send in the minimum monthly payment. Some common solutions are to live below your means, work multiple jobs, work overtime or live at home with your parents for as long as possible.