The Conversation: A Generation of Debt?
ABC News' Sharyn Alfonsi looks at the economic problems facing Generation Y.
April 26, 2010— -- As 20-somethings across the country prepare to graduate from college and embark on the next phase of their lives, more and more of them are finding themselves burdened by debt. In an economy with fewer jobs, many in Generation Y say they are at a loss on how to pay off everything from student loans to credit cards, while still saving for the future.
In today's Conversation, ABC News' Sharyn Alfonsi spoke with Anya Kamenetz, author of "DIY U" and "Generation Debt," two books that looked at the finances and spending habits of America's younger generations. The two discuss how Generation Y's spending habits differ from older generations and how people of that age group view their own economic future.
Generation Y also speaks up in today's Conversation. Some of them are optimistic about plans that they hope will leave them debt free in the next decade. Others aren't sure when they will pay off their student loans but, they say, the debt is worth it in the long run.
