> Except now, college is something like 5x as expensive as it was for your parents, teachers, and advisors, adjusted for inflation
When did this hypothetical 18 year old graduate? At least in 2000, the increase in college costs and difference in post-graduate pay was already widely covered in the media. From personal experience, one didn't need to look in order to hear about it.
I can imagine that it might not have been clear in 1990 or maybe even 1995, but pre-1995 high school graduates have probably paid off or discharged debt.
When did this hypothetical 18 year old graduate? At least in 2000, the increase in college costs and difference in post-graduate pay was already widely covered in the media. From personal experience, one didn't need to look in order to hear about it.
I can imagine that it might not have been clear in 1990 or maybe even 1995, but pre-1995 high school graduates have probably paid off or discharged debt.
https://nces.ed.gov/pubs2003/2003030.pdf (1999 data, 2003 publication) has interesting data. Doesn't really make the case either way, just informative.