As a 38 year old, from the end of Generation X, I have to say that the Millennials have no one to blame but themselves. No one forced them to take on so much debt for a sometimes useless college degree, and no one is forcing them to spend more than they earn.
I'm a Millie. Recently I closed on some commercial property and had time to chat with the broker. His son is only a few years younger than I am and the father is hellbent on getting his son into the priciest college that will take him. The son is reluctant to take on stupendous debt. So was I, and I stuck up for the son's pov. Told him I was homeschooled and decided to avoid the college trap. He said homeschooling carries a stigma, and lacking a college diploma is career suicide. LOL. His commission yesterday came out of my wallet and it covers a typically priced year's tuition. Never mind that I fattened my wallet in his line of work, real estate.
Anyway, sometimes it's the parents' expectations, sometimes not. Too few question the necessity of a diploma at all. If I ever borrow a 5-figure amount to adorn my place with wall art, it won't be a diploma from a left-wing pesthole.
It’s far deeper than that.