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  • Student loans have left Gen Y staring at a bleak financial future
  • Student loans have left Gen Y staring at a bleak financial future
    Alexander Lyubavin, Creative Commons (2014) ©
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How do Gen Y manage their debt?

Gen Yers came of age during one of the worst global financial crises, got saddled with a record amount of student debt, and are worse off than their parents were at the same age. So how are they managing the money they owe? And how have attitudes towards borrowing changed for this cohort?

Location United States

Scope
“I think [the American Dream] is dead and most everyone else I know does too,” says 26-year-old American Peter. “We’re the first generation shackled with seemingly endless debt tied to useless degrees we were told we should get.” [1]

Gen Yers came of age during one of the worst global financial crises, got saddled with a record amount of student debt, and are worse off than their parents were at the same age. In the US, under-30s are now poorer than retired people, while the rest of the population gets proportionally wealthier. [2] And America’s student ...

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