Millennial parents are the poorest generation in 25 years
While millennials are often negatively stereotyped, a huge sector of the generation is facing a lot of pressure.
In fact, more than 20 million millennials are parents, and many of those parents find themselves dealing with the weight of student loans and mediocre job prospects.
According to a recent census analysis, a whopping 20 percent of parents between the ages of 18 and 34 live in poverty.
Millennial parents are dealing with issues that weren't nearly as pronounced a generation ago. This is mostly due to the combination of The Great Recession and the rising costs of education and childcare. Additionally, today's economy makes it increasingly important to have a college education, adding financial pressure.
Statistically, even the millennial parents with bachelor's degrees are dealing with higher student loan bills than their friends who don't have children. When you look at the class of 2008, the average student debt is actually 25 percent higher for people who received bachelor's degrees and have kids (as compared to graduates without kids).
A policy analyst at Young Invincibles, an advocacy and outreach group for young people, said:
The video below shows us that increasing numbers of millennials are living with their parents due to financial instability:
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