You probably assumed that Millennials, the most educated generation in the history of America, thought these times would be quite thriving for them. On the contrary, an alarming statistics appeared in the data of the Federal Reserves. The Young Invincibles, an advocacy group, discovered that a typical 30 year old today doesn’t earn as much as their parents when they were their age.
Since these Millennials earn 30 percent less than the previous generation during the same age, a lot of people now question if the education that burned a hole in their wallets was even worthwhile…
Based on the survey done by think tank New America, only 13 percent of the millennials strongly agree or agree that the present education system is exceptional. Furthermore, a whopping 79 percent revealed that they strongly disagree or disagree that the system they rely on offers sufficient employments. On top of that, the regular debt for every graduate is around USD 37,000, which leaves the generation financially drowned and unable to get started in life.
Naturally, grandparents and parents of these millennials feel more positive towards education, since 28 percent of them strongly agree or agree that higher education is excellent, while the silent generation follows suit with 39 percent.
Nevertheless, the issues of rising rents, student loans, underemployment, not being able to put aside savings and not earning virtually like their parents did hinder their success. Because of this, maybe it’s time to consider if self-education is more beneficial for some students.