Millennials may be the generation that thinks about debt the least, but has the most of it. Colleges and universities have only become more expensive and more competitive, meaning scholarships are fewer and further between and student loan payments are skyrocketing. We’re also part of a generation with a mentality of paying it off later. This is a mentality credit card companies take plenty advantage of, sending us a shameless number of offers for zero interest rates during the first year, relying on us to rack up big bills we cannot pay off in those first 365 days so they can hit us with huge interest rates after. But debt is very serious and can ruin a person’s life. It’s not just like a financial dunce cap that’s a bit embarrassing—it’s debilitating. Here are facts about debt millennials need to know.

Millennials have a lot of long-term debt

Around two-thirds of millennials have some outstanding long-term debt. This can come from a student loan, car payment, small business loan, or any other loan that is being paid off over an extended period of time. What’s more is that 30 percent of millennials have two forms of long-term debt.

Even high earners worry

Research has found that over 30 percent of millennials who earn over $75,000 a year still worry about making their student loan payments. The repayment is that debilitating.

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