The Problem with Student Debt.
Matthew Gardner
![Matthew Gardner]()
Matthew Gardner
Public Speaker & Writer | A storyteller who translates economic & housing market data into actionable information for real estate professionals and the public.
Why is student debt getting out of hand? Here is some easy math to show why students are carrying a current debt load of around $1.1 trillion:
Annual tuition for Yale, 1970: $2,550;
Annual tuition for Yale, 2014: $45,800
Minimum Wage, 1970: $1.45
Minimum Wage, 2014: $7.25
Daily hours at minimum wage needed to pay for tuition in 1970: 4.8
Daily hours at minimum wage needed to pay for tuition in 2014: 17.3
And there you go…
Musician/Singer & Entrepreneur
9 年Lending practices by hucksters looking to capitalize didn't help, either. Seems comparable to the absurd housing finance market during that time.