[vc_row][vc_column][vc_column_text]
Millennials are in a seemingly impossible financial crisis.
Overcoming these circumstances seems impossible, but Matt Hulme, a junior at BYU, may have found a way out. Hulme recently launched a Kickstarter, a way to fund creative projects, for his brainchild “the foot hammock” — a small sack that hangs under your desk for your feet to rest on. The Kickstarter surpassed its goal by more $80,000.
RELATED: MILLENNIALS USE #SOCIALMEDIA TO COMPLAIN, TALK ABOUT CELEBS
“I’m just a really, really lucky person that’s incredibly fortunate to be in the right places at the right time,” he said. “That being said, I have definitely worked really hard to get here.”
Nate Shumway, on the other hand, is still working through these problems. Shumway, 21, has been accepted to the U to study computer science, but he’s still waiting to register for classes due to student debt. For now he’s working for the university, which means he’ll eventually receive a 50 percent tuition discount, and he’s hoping to qualify for in-state tuition as well.
Student debt, which Shumway hopes to avoid, is the largest financial burden for millennials. According to Forbes, two-thirds of students graduate with student debt, which accounts for $1.2 trillion of the national deficit.
A recent Washington Post article found that student debt takes up an overwhelming amount of debt held by people in their twenties — 36.8 percent in 2014, up from 12.9 percent in 2005.
“Millennials as a whole may be less financially literate than other generations, but there will always be exceptions to the rule,” Hulme said. “Nobody is 100 percent trapped in the shortcomings of their generation.”
@SeymourSkimmer[/vc_column_text][/vc_column][/vc_row]