A Recent Graduate$$s Debt Status. Chelsea Menken, of Providence,

Rhode Island, recently graduated with a degree in food science and

now works for a major consumer foods company earning $$70,000$ in

gross income per year with about $$58,000$ in take$-$home pay per year.

She rents an apartment for $$1,100$ per month. While in school, she

accumulated about $$38,000$ in student loan debt on which she pays

$$385$ per month. During her last fall semester in school, she had an

internship in a city about $100$ miles from her campus. She used her

credit card for her extra expenses and has a current debt on the

account of $$8,000.$ She has been making the minimum payment on the

account of about $$240$ a month. She has assets of $$14,000.$