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cuatro Surprising Indicates Millennials Was Paying down Their College student Financial obligation

cuatro Surprising Indicates Millennials Was Paying down Their College student Financial obligation

Of job positive points to video game reveals, certain Millennials want innovative a way to tackle its beginner debt burden…

Millennials’ financial setbacks are nothing new. Based on Politico, the demographic is “behind in almost every economic dimension,” and the ratio of how much they have invested in assets like 401(k) plans to their income is below Gen X and Boomers and isn’t expected to change anytime soon. Of course, the massive student loan debt the generation is carrying isn’t helping. Considering Student loan Hero, as of 2018, outstanding student loan debt in the U.S. surpassed $1.48 trillion-almost one-and-a-half times what Americans owe in credit card debt. Studies show this burden is killing off a full 75% of the average Millennials’ net worth and overall hindering their chances for long-term financial success. In fact, Millennials with student loan debt have an average net worth of $29,087 compared to $114,376 for those with no student debt, according to Student Loan Hero, and have 46% less cash in their savings and checking accounts.

So it’s no surprise that paying down this debt is a major goal for the generation: when we looked at their biggest economic goals last year, paying off debt or student loans topped the list. Continue reading cuatro Surprising Indicates Millennials Was Paying down Their College student Financial obligation