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Why Millennials Have Become the Wanderlust Generation

By U.S. News & World Report

Millennials have long garnered a reputation as the tech-savvy and sharing economy driven generation. Above all, millennials want to connect to others and the world in an authentic way. They push boundaries, they map out their own itineraries and they prioritize staying in local neighborhoods rather than cookie-cutter hotels. In fact, according to population estimates from the U.S. Census Bureau, there are more than 83 million millennials in the country. Aside from representing one of the most lucrative segments of the travel market, millennials also happen to have a strong desire to plan trips. Here’s a look at millennial travel trends and how the wanderlust generation is redefining the travel landscape as we know it.

[See: How Your Hotel Stay Will Evolve in 2017.]

Survey Says: Millennials Travel the Most

Why are millennials so keen on exploring? Inspiration, adventure and the fact that they can do it. Recent studies show that millennials travel more than any other generation. The United Nations estimates that 20 percent of all international travelers are millennials, comprising approximately 200 million people. And according to MMGY’s Global Portrait of Business Travelers, millennials took 7.4 business trips in the previous year, while Gen Xers took only 6.4 trips. And interestingly, millennials are more likely to look to their peers for inspiration, who are off seeing the world. In fact, the marketing ads that have successfully influenced the generation’s travel decisions focus on authenticity and rely on inspirational social media influencers.

” Bleisure” Trips Offer the Best of Both Worlds

Work and play now go hand-in-hand, with an increasing number of millennial travelers tacking on leisure vacation time onto business trips. Let’s face it: Traveling for work wears on the soul quickly and wears down one’s work ethic. If traveling the world only for business, how do you soak up that international experience for resume-building and sightseeing? With an increasing desire to spend extra days networking and exploring new destinations with loved ones, work travel is transitioning into a lifestyle trend rather than an obligation, according to a trend report from Skift. The report also found that six out of 10 professionals taking business trips reported that they were more likely to take bleisure trips today than in the previous five years. In short: Millennials are increasingly viewing work trips as opportunities to block off time for leisure and experiencing a new city with enriching cultural experiences.

[Read: 6 Places to Visit in Your 20s.]

Traveling Affords a Home-Away-From-Home

As the world has become more industrialized, people have moved farther away; humanity has a need to travel and explore, especially millennials, who have the technological tools and skills to make travel the most accessible and comfortable than ever before. As a result, travel companies have reinvented their brand image, experiences and perks to cater to millennials craving authentic local experiences. Sites such as Airbnb, Hostels.com and Couchsurfing.com make it easier to find a little nook in a sprawling urban city in a new country you’ve never visited. Today, millennials can use a variety of peer-to-peer booking sites and room-sharing services to enjoy locally driven experiences and connect with their local environment in an interconnected and more meaningful way.

Experience Trumps Expense

A recent study from Airbnb reveals that millennials are more interested in spending their money on experiences rather than big purchases (think: buying a home), and a higher number of millennials are spending money on travel, taking approximately three or four trips annually. The study also found that millennials crave authentic experiences, with eight of 10 respondents reporting that the best way to get acquainted with a country is to live like a local and base yourself in local neighborhoods, regardless of whether they are in close proximity of top tourist destinations.

[See: 10 Bucket-List Destinations That Don’t Cost a Fortune.]

The Bottom Line

This generation gets stereotyped with positive and negative traits, but the most valuable of all characteristics stands out — authenticity. Millennials may have a huge case of wanderlust, but it’s for a good reason: They’re keeping it real.

More from U.S. News

The Biggest Travel Trends to Watch in 2017

10 Hotels Targeting Millennials

7 Top Travel Apps and Tools to Score Sales in 2017

Why Millennials Have Become the Wanderlust Generation originally appeared on usnews.com

Don’t Settle for Student Loans to Pay for Online Education

By WTOP Staff
Online college programs are becoming a more popular choice for prospective students, with one study finding that more than 6 million students enrolled in at least one online course in fall 2015. The popularity of these courses can be attributed in part to their flexibility with working adults' schedules, students' ability to progress more quickly through online programs and, oftentimes, cheaper tuition. [See 10 low-cost online bachelor's programs for out-of-state students.]Online degrees can be beneficial to many college students, but some studies have shown online learners complete their programs at lower rates than students at traditional brick-and-mortar campuses. Individuals with student loans but no degree comprise two-thirds of defaulted borrowers. Though these numbers are not encouraging, just like for traditional programs, there are ways to reduce how much you'll need to borrow for an online program to ensure you won't become one of these statistics. Don't just settle on borrowing student loans to cover the whole cost of your program and living expenses. Instead, start thinking about how to cut costs and cover your balance in different ways, such as the following. -- Grants and scholarships: Even though you are taking an online course, you can still apply and receive grants and scholarships. But your first step should be to complete the Free Application for Federal Student Aid, commonly referred to as the FAFSA, which will allow you to receive a Pell Grant if your expected family contribution is low enough. The EFC criteria and award amounts are adjusted annually, but the 2017-2018 academic year awards range from $606 to $5,920, which could significantly lower the amount you borrow annually. Your next step is to apply for scholarships. You can start by checking online scholarship search engines, such as the Salt Scholarship Search, College Board's BigFuture and Peterson's. But don't forget to take advantage of local organizations and your school's financial aid office. Both may offer scholarships that you can't find with a national scholarship search. [Review these 10 sites to kick off your scholarship search.]For instance, organizations like the Elks Club, Knights of Columbus or the Rotary Club typically offer scholarships annually to local students. Just because you're going to school online doesn't mean you're ineligible. Visit your local library for scholarship listings, and ask around town. You might be surprised how many local organizations offer scholarships. While these scholarships typically aren't large, every little bit counts. Each dollar you receive in a scholarship is a dollar you don't have to borrow and pay interest on. -- Work-study: Another option for online students may be work-study awards. Not all students enrolled in online programs are eligible, but students at some schools -- including, for example, SUNY Empire State College and Liberty University -- are. Work-study awards are not given upfront like scholarships and grants. In most cases, they are an offer to earn up to the awarded amount if you secure an eligible work-study job. While there is a misconception that all work-study jobs must be on campus, students can work for off-campus, nonprofit or public employers as long as the work is in the public's interest. You may be able to work for a for-profit employer if the job is relevant to your course of study. No matter who the outside employer is, it will need to have an established agreement with your college for you to receive work-study funds. Remember, to be eligible for federal financial aid, you must be enrolled and pursuing a degree or certificate. If you're not working toward a credential, Pell Grants and work-study won't be option, but you may still be able to take advantage of private scholarships -- just be sure to read the eligibility criteria carefully. [Explore what to know about financial aid in online programs.]-- Pay as you go: One of the great benefits to enrolling online is the flexible schedule, which can allow you to complete your college coursework around your responsibilities. But prospective students often overlook using their part- or full-time job earnings as an option for paying for college. Almost 80 percent of college students in 2015 worked at least part time while attending classes, according to the National Center for Education Statistics. By budgeting and thinking strategically about your college costs, you can likely reduce your dependence on student loans by paying a portion out of pocket. Many -- but not all -- online programs are less expensive than traditional programs and often have shorter payment periods. Six, eight or 10 weeks are common course durations. Because of the frequency of payments in an online setting, you may be well-placed to pay as you go and possibly avoid borrowing altogether. Attending college online and avoiding student loans may be challenging, but if you are willing to put in the effort, you can limit the amount you need to borrow. More from U.S. News Q&A: Understanding Student Loan Discharge Eligibility Student Loan Refinancing Isn't Right for All Borrowers
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