Because of Their Student Loans, Millennials Expect to Die in Debt

Adulting, the now common idiom goes, is hard. And to many millennials, the grim realization that debt will always be part of their lives is not making it any easier. In some cases, their debt load is so soul-crushing they expect to die without ever paying what they owe back. So how much does this problem have to do with the higher-education crisis the country is facing? As it turns out, everything. According to a study by Northwestern Mutual, educational loans are the leading source of debt for millennials ages 18 to 24. And according to a CreditCards.com report, over 60 percent of millennials aged 18 to 37 are completely unsure when, or if, they will be able to pay their debt off. Among those who responded they are uncertain about their ability to pay off debt, 20 percent said they expected to die in debt. But to those […] Read More

The Killing of America’s Creative Class

A review of Scott Timberg’s fascinating new book, ‘Culture Crash.’ Some of my friends became artists, writers, and musicians to rebel against their practical parents. I went into a creative field with encouragement from my folks. It’s not too rare for Millennials to have their bohemian dreams blessed by their parents, because, as progeny of the Boomers, we were mentored by aging rebels who idolized rogue poets, iconoclast cartoonists, and scrappy musicians. The problem, warns Scott Timberg in his new book Culture Crash: The Killing of the Creative Class, is that if parents are basing their advice on how the economy used to support creativity – record deals for musicians, book contracts for writers, staff positions for journalists – then they might be surprised when their YouTube-famous daughter still needs help paying off her student loans. A mix of economic, cultural, and technological changes emanating from a neoliberal agenda, writes […] Read More