Millennials have been called entitled, narcissistic and coddled. But perhaps the defining characteristic of my generation is indebtedness.
Some 42 percent of Millennials, notably those from 18 to 29 years old, report some level of student loan debt. If the indebted individuals formed a political party, the membership would eclipse the percentage of Millennials who identify as Democrats or Republicans.
What’s more, if the more than 31 million indebted Millennials formed a state, only California would have a larger population.
This enormous amount of debt shapes Millennials’ everyday decisions and jeopardizes the financial future of our generation and nation. Unfortunately, things may get even worse.