Originally Posted by MichaelB
Tiny? Absolutely not. Did you read the link?
Lets see. Average public school $2679. Didn't include spending money, books, transportation. Just $ to the University.
Not sure what T-Al or Mrs Y earned but I made $2.10 per hour in the kitchen and $2.50 per hour as a TA (20 hours x week). During the summer I made the princely sum of $3.50 per hour driving a fork lift and more when I got overtime, and one summer I actually made a ginormous $6 per hour working in a foundry.
Working 20 hours per week, 50 weeks, $2.50 per hour grosses $2.5K before tax. Not enough to pay the average public school bill. And if you wanted luxury items, like a new pair of jeans, some shoes, or a bit of food to supplement the meal plan, money was a showstopper. So still need to borrow or get someone to help to pay the other expenses.
Ms Y and T-Al's experience resonate closely with my own, both work and debt.
What's interesting here, and I wasn't able to find when MB graduated with any effeciency, is that the part time work wages in '75 are about the same as when I went to school (2001-2005). I made anywhere from $7.50/hr to $14/hr (lab tech) on campus. Of course, my summer internships paid anywhere from $20/hr to $25/hr. So, is tuition on pace with inflation and wages? Certainly, my degree fetches a little more than the average degree, so my internship wages may be a little higher (which makes college "cheaper", but I am unsure about the avg student.
Chez my college, out of state tuition (which I had to pay) in my graduating year was more than $24k/year. Just looked up what it is now, $27,270/yr. So, if you drink the CPI kool-aid, tuition today is slightly less than when I graduated when adjusted.
just as others, I borrowed more than I needed (but not all that I could) and am fortunate I chose a career which pays me well (and that I enjoy). skiing 3 days a week cost me more than I originally thought using borrowed money. looking back, I'm glad I did it.