"One of the biggest generational differences which causes a disconnect between baby boomers and millennials is student debt.
Many baby boomers are confused why college graduates don’t immediately move out of their parents’ house like baby boomers did.
The issue is that once a student graduates, they become debtors.
It’s a vicious cycle which turns compound returns against borrowers...
Finances By Degree
The chart below shows the net worth of loan applicants for various degrees.
NET WORTH OF LOAN APPLICANTS
Conclusion-Student loans are devastating for millennials as they are graduating with excessive debt, yet getting paid similar amounts to baby boomers when they were young.
Baby boomers were able to enter their 20s with little debt which helped them buy a house and start a family at a young age..."
Baby boomers were able to enter their 20s with little debt which helped them buy a house and start a family at a young age..."
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