Millennials ruin things. Soap, Great Britain, the sitcom, the American dream, America itself, napkins: everything. Now the generation is moving onto one of America's most cherished institutions: insurmountable piles of personal debt.
In a survey conducted by the student loan provider SoFi, nearly 40 percent of respondents said that, given the choice between divulging their sexually transmitted diseases and their outsize debt loads, they'd chose the former.
Something's deeply wrong here. For debt to be the life-altering punishment it's designed to be, there should be no deeper shame in the world, STDs or otherwise. The fact that 60 percent of young Americans would rather disclose their financial liabilities than the name of the fungus preying on their loins means America's loan servicers and financial advisers must be going too easy on Generation Y.
The preference to talk about debt over a simple genital infection is even more disturbing when you realize how unremarkable STDs have become among millennials. As Bloomberg noted, STDs have hit an “unprecedented high” in recent years, mostly among young adults (even if they have ruined sex).
But there are some glimmers of hope in the survey. Asked how much debt it would take for them to dump a potential life partner, more than 60 percent named a price. Only 36 percent of respondents betrayed their lack of financial literacy by answering, “I'd never – there is no price too high for love.” Wrong. Survey says it's between $50,000 and $100,000.
Another silver lining: Almost a quarter of millennials have lied to a romantic partner about their level of debt. That's encouraging. There's a reason the German word for debt translates to shame.