then you are assuming the passion for VT football (and maybe even VT Athletics) has remained consistent between the classes. I graduated from VT in 2000 and it would not shock me to learn that student interest in VT athletics is down for Classes from this decade compared to the Class of 2000 and prior Classes. While at VT I remember doing my shifts on weeks a group of us camped out for student tickets to a big football game. If VT brought back the tradition, then I suspect the number of campers would be significantly down compared to when I did it.

Another factor the 20-somethings may have to deal with is making a choice between paying off their student loans vs. spending money on joining the Hokie Club/season tickets/seat licenses. Depending on where the 20-something lives, he/she may not have enough disposable income to do both.

I don't think either explains the entire issue with the 20-somethings, but I do think it explains the majority or close to the majority of the issue. Plus, if money is an issue for the Athletic Department, then generally speaking the 20-somethings have less to give compared to the older generations. Which means it will take more 20-somethings to replace the lost donations from a Middle Age donor. If VT wants to continue to break even each year, then it means either increasing the enrollment each year or significantly increase the participation in each graduating class.