As a college student, I am barely capable of planning out my next week’s schedule, let alone planning out my future retirement. However, current predictions about the lack of future funding for social security have put me in a frenzy.

Let’s start with what exactly Social Security benefits are because I know many people my age don’t know. Social Security is a federal program that pays cash benefits to multiple groups of people. These groups include people who are retired, disabled and families of deceased workers. The trust fund is broken down into two specific payout categories — the Old Age and Survivors Insurance Trust and the Federal Disability Insurance Trust.

Money is paid to these two groups of people by taxing individuals who are currently working and their employers. So how exactly are we “running out” of Social Security funds? We are drawing out more money than we are putting into the pool, simply based on the high number of those needing Social Security and the low number of those currently working and contributing to the pool.

While it is very unlikely Social Security will completely deplete its funds, as there will always be people working, the probability of its funds running dangerously low are almost inevitable at this point.

The 2015 Annual Report of the Board of Trustees of the Old Age and Survivors Insurance and the Federal Disability Insurance Trust funds was released July 22. The report explained the current status of both social security funds and their future outlooks, which are quite bleak.

The Federal Disability Insurance Trust Fund is expected to deplete its funds during the fourth quarter of 2016, according to the report. This would leave the trust fund only able to pay 81 percent of its scheduled benefits and would put the Disability Insurance Trust on its last legs, which could result in millions of disabled individuals scrambling to make up for lost income.

The Old Age and Survivors Insurance Trust has a slightly brighter outlook. Enough funds exist to pass the short-range goals of 10 years. However, the The Old Age and Survivors Insurance Trust will fail in its long-range goals of funds lasting through the next 75 years. It is estimated that the trust funds will become depleted by 2035.

The trust fund report offers some viable solutions to offset this funding problem. In order for the trust to remain solvent during the next 75 years, there would have to be a tax hike from 12.40 percent to 15.02 percent. There would also have to be a reduction in recipient benefits by 19.6 percent after 2015. While these options may seem frightening at first glance they are the life raft that will keep Social Security benefits afloat.

Unfortunately, many American’s are choosing to turn a blind eye to the undeniable truth.

Pew Research Center released results from a study in August of 2015, concerning the future of Social Security. In the study, 50 percent of Generation X believed they would receive no Social Security benefits by the time they retire. But a staggering 67 percent of Gen Xers think there should be no reduction in benefits. While 37 percent of millennials believe a need for reductions exists, that number needs to grow along with the awareness of the problem.

So what can we as millennials do to ensure we get a slice of the Social Security pie when so many people seem to be fighting against us?

We can advocate for the age at which social security benefits kick in to be raised from 67.

I realize this can throw some people into a tizzy, as we all want to retire early. Social Security was never meant to be a sole income for retirement — the average benefit in 2015 was $1,335 a month — and raising the age by a year should have little effect on retirees as long as they prepared for retirement by saving other assets.

The ceiling on Social Security taxes should also rise. The highest taxable earnings during 2015 was an income of $118,500. Raising this limit will help fund the Social Security pool as well as prolong the life of Social Security benefits.

The entire needs to come together and realize this problem can’t be fixed without change. It’s wrong to simply deny a problem exists and let entire generations’ benefits be depleted before they become middle-aged citizens. In order for Social Security benefits to last for future generations, cuts need to be made and changes need to happen quickly.