A wedding should be a joyous occasion filled with love, laughter and maybe some anxiety about everything going according to plan. But when two millennials exchange vows, it comes at a much higher cost than the price tag of a wedding.
The average millennial carries an unprecedented debt burden: an average $29,400 in student loans, according to the Institute for College Access & Success.
It’s no surprise then that the Pew Research Center reports only 26 percent of the millennial generation between ages 18 and 32 got hitched in 2013 – 10 percent lower than when Generation X was in the same age range and 22 percent less than baby boomers.
If the marriage of two millennials could result in nearly $60,000 in debt from the start, what’s a newlywed couple to do?