 TITLE: Young and Old: Breaking Out Millennial Debt and Credit CONTENT: Millennial Debt Varies Drastically by Age\n-----------------------------------------\nWhile it's often reported that the millennial generation has one of the highest total debt balances (the generation ranks third highest by total debt), this is not necessarily true for every member of the group. In fact, younger millennials have a total average debt balance that's less than half that of their older peers, according to Experian data.\nYounger millennials carry a total average debt balance of $41,330, compared with the $104,064 carried by older members of the generation. If we were to rank these averages, the younger portion of the age group would have the third-lowest average debt balance while the older portion would rank as the second highest of all generations.\nSince debt balances grow with age—peaking at 46—the fact that the younger members of a generation have less debt than their older peers isn't exactly surprising. END