Millennials are waiting longer to get married and opting for simpler, smaller ceremonies and receptions once they do get hitched. Too much screen time and social awkwardness might have a small impact on this trend, but the real culprit is the rising cost and questionable value of higher education today.
When Millenials graduate – or not – from college, they do so with an alarming amount of debt that a degree in social justice just can’t pay for. With $50,000+ in school debt, that $10,000 wedding looks like an extravagance. Imagine what their debt would have been had they held a minimum wage, part-time job during school ($10-$12k/year). Oh, and they might have wanted to get a degree in a STEM field, business, finance or something else useful. Combine the two and college debt is no longer an issue, but hey, here’s why Millennials are waiting … or something.