Millennials Have To Work Twice As Much As Boomers Did To Pay Off College, But There’s A Catch… 

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Key FindingsBetween the mid-1980s and 2010, the cost of a Bachelor’s degree in public and private colleges increased by 421% and 303%, respectively;Over the same period, the average post-graduation salary saw a 165% increase, while the federal minimum wage jumped by a mere 116%;Baby Boomers earning minimum wage could pay back their public college tuition by working just 1,410 hours—a figure that dropped to 481 hours for those earning the average post-graduation salary;In comparison, Millennials earning minimum wage need 3,398 working hours to pay back their public college tuition and 1,004 hours if they earn the average post-graduation salary;When attending private colleges, Millennials need to work five times as many hours as Baby Boomers to pay down their tuition if they earn minimum wage;Despite enjoying more affordable college, Baby Boomers have racked up $78.2 billion in federal student loans to put their kids through school.

Source: Millennials Have To Work Twice As Much As Boomers Did To Pay Off College, But There’s A Catch… | ZeroHedge

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