Hope you had a great weekend.
I'm Carl Azuz and I'm pumped to welcome you to the special edition of CNN STUDENT NEWS.
We're taking an in-depth look at the country's young labor force, its financial picture, its student loan debt, advice for when it comes time to look for a job in the online area.
We've teamed with CNNMoney to focus today's show on some of the financial challenges facing this newest generation of American workers.
A good place to start is to define.
We're talking about people born in the 1980s and 1990s. It's time to meet the millennials.
Hey, millennials. What makes you so special anyway?
Smart is the new rich: Money Guide for Millennials.
Well, for starters, that generation is the biggest in American history.
There are at least 80 million people age 18 to 35.
They're the most educated generation ever and they have the student loan debt to show for it.
The average student loan balance for someone under 30 years old, more than $21,000.
I currently have $46,000 in debt.
I have about $54,000.
Ninety-five thousand dollars in student debt.
Scarred by the Great Recession, millennials have been reluctant to buy a house.
I don't think I plan to buy a home at any point.
Never occurred to me that I would purchase a home.
I really believe in a sharing economy.
Thirty percent still living with their parents, but most millennials say they want to buy and some are starting to take the plunge.
My goal for a down payment is $20,000, and I'm actually achieving that goal and I'm going to get there quicker than I actually thought.
Living in the mom and dad's basement means fewer millennials are tying the knot.
Their parents probably got married in their early 20s.
This generation, 30 is the new normal.
And they're waiting to have kids, too.
I don't want to bring a child into the world until, you know, I know that I can afford that.
Millennials are the first generation born online.
They're tech savvy, which makes them quick learners and smart shoppers.But they care about much more than just the bottom line.
So, companies have to adjust to make their products more sustainable, higher quality and customizable.
That's what millennials want.
The ethics are very important to me.I'm looking for authenticity.
It's good to know that it will go to a good cause if it goes to a good company.
Ready or not, millennials are dramatically changing expectations and shaping the world.
OK. You just heard it, the average student loan balance for millennials, saving lost in the Great Recession, a weak job market for young people, the cost of college, these are some reasons why students have loan debt.
According to the College Board, the average tuition and fees for a public four-year college in America, more than $9,000 a year for in-state students, $23,000 a year for out of state students.
Average tuition at a private school, more than $31,000 a year.
How much money college students borrowed depends, but they are expected to pay it back.