Millennials are confronting a financial tidal wave characterized by overwhelming student loan debt and rising living expenses coupled with slow wage growth. As of January 2025, millennials hold almost half of the nation's student debt, averaging over $40,000 each. This debt strains their capacity to save for retirement and lead a fulfilling life. The alarming statistics reveal that 81% of college-educated millennials now wrestle with long-term debt, creating a pressing need for effective financial planning to emerge from these challenges and regain financial stability.
Millennials face a tough financial landscape characterized by high student loan debt, rising living costs, and stagnant wage growth, leading to difficult decisions about their financial future.
With nearly half of the $1.693 trillion in student debt owed by millennials, averaging over $40,000 each, their financial burdens hinder dreams of retirement and leisure.
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