Shut Out of the Dream
As if the Millenials of America needed another reminder of how life's deck of cards appears to be stacked against them.......
Why Millennials Are Shut Out Of The American Dream
http://www.huffingtonpost.com/entry/another-reminder-that-millennials-will-probably-die-poor_us_56bce574e4b0c3c550507d95
"Millennials are the first generation in the modern era that's overwhelmingly blocked from attaining the classic American dream of homeownership, according to a disturbing new research survey that should be enough end any argument that young adults today are somehow more entitled or spoiled.
Education debt is so crippling to so many.
Why Millennials Are Shut Out Of The American Dream
http://www.huffingtonpost.com/entry/another-reminder-that-millennials-will-probably-die-poor_us_56bce574e4b0c3c550507d95
"Millennials are the first generation in the modern era that's overwhelmingly blocked from attaining the classic American dream of homeownership, according to a disturbing new research survey that should be enough end any argument that young adults today are somehow more entitled or spoiled.
While nearly all young adults say they want to buy a home, most cannot afford it, according to the survey, from a group of researchers headed by Yilan Xu, a professor of agricultural and consumer economics at the University of Illinois at Urbana-Champaign.
The research suggests that there are two big reasons millennials who want to buy a home find it hard: student debt and the lingering effects of the Great Recession."
Education debt is so crippling to so many.
For most recent grads, new couples, and young families, there's no room for a mortgage in the budget when there's a huge education loan payment to make each month/quarter.
From my viewpoint, there are 3 primary root causes of the student debt problem in America:
- skyrocketing tuition, in part due to out-of-control spending (especially administrative/overhead) at colleges and universities
- parents not being responsible to plan financial needs and properly fund college savings for their kids (just $20/wk starting at birth grows to be huge $$ by age 18)
- pushing kids to attend 4-year schools all 4 years, rather than community colleges for the first 2
Millennials are struggling folks.
They are our next generation of leaders.
Support them any way you can.
And parents...... think of the future.
Plan.
Save.
Set your kids up for a win.
Out for now........
Matt
p.s. a prior MattChat post related to student debt:
