Final answer:
The author believes the biggest financial mistake made by recent graduates is the accumulation of substantial student loan debt, which averages $25,250 upon graduation, hindering their financial stability and life progression.
Step-by-step explanation:
The question regarding what the author believes is the biggest financial mistake made by recent graduates is centered on the social and economic challenges facing new college graduates. From the information provided, it can be inferred that the author believes the substantial amount of student loan debt accumulated by students to finance their education is the biggest financial mistake. This debt averages $25,250 upon graduation according to a 2010 report by Tamar Lewin in The New York Times, imposing a heavy burden on graduates who are often earning entry-level wages and facing a job market affected by the 2008 financial recession. The challenge of repaying this debt, especially during an economic downturn where jobs are scarce, has a significant impact on the financial stability and life choices of recent graduates, who may defer important life milestones, return to their parental homes, or struggle to meet their financial obligations.