Ready for a statistic that reinforces something we all know? The cost of a college education has increase 8x faster than wages since 1989. In just the last 30 years, the average price of a 4-year college education has risen from roughly $53,000 in today’s dollars, to a whopping $104,000. That’s nearly double.
During the same time period, average wages for US workers only saw nominal raises. Wages have gone up just 0.3% per year since 1989. That means the average worker, who was making roughly $54,000 per year in 1989, is making $59,000 today.
It’s no wonder more and more people are either opting out of expensive colleges or taking on ever more debt in order to attend and graduate.
For the full story, read this article from Forbes.