Good morning, it’s April 8, a Friday! Here are today’s pins.
Millennials are spending 18 percent of their salaries on student loan debt, says research released Thursday by Citizens Bank. And 60 percent of Millennials look to be paying off this debt into their 40s.
And here’s a purported “report” on the findings by Reuters, laced in condescension. Also reported is that 47 percent of Millennials would limit their online food delivery to lessen the student loan burden.
Here’s the deal, though: Millennials have been paying off loan debt for a while now, and they know that even if they max themselves out, they’re still paying tons each month. They’ve also found little wiggle room with consolidation and refinancing.
Moreover, they want to have some sort of life. Sure, the Moment Economy is a bit out of hand, but I get it – work is a drag and pays little; loans are piling up … why not do something this weekend?
Student loan payments are out of hand. Simple as that.
After launching at SXSW, lending app Lenny has already underwritten 1,000 credit lines in three weeks, this report says. Lenny has nationwide peer-to-peer payment and credit lines of up to $10,000. It’ll soon be launching its lending feature, beyond California, to Texas, Florida and New York.
Publisher Meredith (Parents magazine, Family Fun, Fit Pregnancy and Baby) has announced partnerships with Millennial-focused YouTube parenting brand What’s Up Moms, and magazine “GFF: Gluten Free Forever.” Big dog takes in little dogs because Millennials are becoming parents (and gluten-conscious) at a rapid rate.
The Hartford Courant is a little late on this trend, but this is one I’m not quite in love with: Weddings are all hashtagged. You know #MalcolmWedding and such. (I know, that’s not creative, but honestly, I don’t care). I was married in 2014, and while everyone around us was doing a hashtag, we resisted. No thanks.