this post was submitted on 19 Jul 2024
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Inflation is a thing. If she was born in 1946, she would have gone to college around 1964. Which means that her tuition would have been about 7600 dollars today. That's still lower than the average in-state tuition by about 2000 dollars, but just putting that into context. However, minimum wage in 1964 was 1.15/hr, which means it would have taken about 16 weeks at full time minimum wage to pay for one semester tuition vs the 33 weeks it takes today. That's a much better metric of comparison. It would take over a year to pay for a year of school now vs half a bit over half year before.
If the boss was born in '46 this is true, but she's a lot more likely born at the later end of boomers, since '46 would age her at 78. I'm guessing she's at or below retirement age, not well above it
If the boomer is 60, it would only cost $2,267.87, adjusted.
If they're 65, it would have been 3,245.61.
The numbers I got for tuition today: $41,540 at private colleges $11,260 at public colleges (in-state residents) $29,150 at public colleges (out-of-state residents)
And you could get jobs that covered your housing, food, and more easier in general