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Posted: 3/23/2024 1:42:12 PM EDT
twice as long
https://www.star-telegram.com/news/business/article287009720.html Most Americans intuitively know that higher education has become disproportionately expensive for younger generations—thanks to millions of graduates trapped in student debt. But are education costs really so out of reach for younger generations, considering new career opportunities and wage inflation? Creditnews put that theory to the test by comparing the college tuition costs of Baby Boomers and Millennials against what both generations earned after graduation. Our analysis revealed a stark difference in the "purchasing power" of a college degree in the 1980s and today, driven by the growing disparity between tuition costs and wages. Even though Baby Boomers had it much easier back in the day, student debt is catching up with them, too. In a twist, Boomers' student debt balances have recently exploded as many Boomers take out loans to put their kids through college. Must've been nice to buy a single family home for $88k and flip it for $800k with no renovations 
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VA, USA
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Posted: 3/23/2024 1:44:12 PM EDT
[#1]
Don’t use math on the boomers, they will tell you 2+2 does not equal 4 just so that they don’t have to admit that there’s even a chance that things were easier for them.
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TX, USA
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Posted: 3/23/2024 1:45:35 PM EDT
[Last Edit: tsg68]
[#2]
Originally Posted By Scalped: twice as long https://www.star-telegram.com/news/business/article287009720.html Most Americans intuitively know that higher education has become disproportionately expensive for younger generations—thanks to millions of graduates trapped in student debt. But are education costs really so out of reach for younger generations, considering new career opportunities and wage inflation? Creditnews put that theory to the test by comparing the college tuition costs of Baby Boomers and Millennials against what both generations earned after graduation. Our analysis revealed a stark difference in the "purchasing power" of a college degree in the 1980s and today, driven by the growing disparity between tuition costs and wages. Even though Baby Boomers had it much easier back in the day, student debt is catching up with them, too. In a twist, Boomers' student debt balances have recently exploded as many Boomers take out loans to put their kids through college. Must've been nice to buy a single family home for $88k and flip it for $800k with no renovations They paid 18% interest on it though. In the 90’s I had to move because you needed at least 18% to put down in order to buy… |
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USA
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Posted: 3/23/2024 1:45:53 PM EDT
[#3]
Just gotta pull yourself up by them bootstraps boy
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TX, USA
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Posted: 3/23/2024 1:52:00 PM EDT
[#4]
i probably don't have to say it on this forum, but this is a direct result of democrat policies that claimed to be helping the poor.
Ds: "let's drastically expand the scope of federal student loan guarantees, remove the limits on how much you can borrow, and wildly liberalize creditworthiness criteria." Rs: "that will have an inflationary effect." Ds: "you racists." |
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Posted: 3/23/2024 1:57:16 PM EDT
[Last Edit: midcap]
[#5]
boomers also didn't need any skills for those min wage jobs......throw a boomer at a min wage job now and they would be lost and couldn't keep up. Computers and shit.
I would also like to point out to ya'll knuckle heads that it's Republicans, especially the Regan, Bush types that sold everyone out in the name of cheap shit and cheap labor. |
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AZ, USA
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Posted: 3/23/2024 1:57:19 PM EDT
[Last Edit: KalmanPhilter]
[#6]
Everything government subsidized outpaced the general rate of theftflation. Healthcare, housing, education, and likely soon food. Conservatives laughed at Ron Paul more than ignore-rant liberals but legal tender and central banking monopolies once abused only go one way. The trajectory preceded boomers by two to three generations. Now boomers get declining healthcare quality with rising costs so I’m not sure they are so lucky in the Keynesian long run.
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Posted: 3/23/2024 1:57:46 PM EDT
[#7]
Quote HistoryOriginally Posted By tsg68: They paid 18% interest on it though. In the 90's I had to move because you needed at least 18% to put down in order to buy 18% interest on how much debt, thirty dollars for a house and a degree? 
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Posted: 3/23/2024 1:58:42 PM EDT
[#8]
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Posted: 3/23/2024 1:59:57 PM EDT
[#9]
@eagarminuteman
i've told this story many times before but here we go.gif  i used to work with a bunch of useless jagoff b**mas who were so proud of themselves for buying their first house in 1988 five years out of college for $30k. i googled the (brand new stahtah home at the time in a decent area) house from 1988 and naturally that's a (piece of shit beat down shitbox little house in a not great area) $600k house today for... reasons. one of the useless FUPA b**mas wouldn't shut his fucking gaping cockholster so i finally snapped and asked what he was making in 1988. FUPA b**ma: $15k. so that's like me five years out of skool making $300k/yr and buying my first house for $600k. little does dumb motherfucker FUPA b**ma realize that adjusted for inflation/whateva i'm making a fraction of what he made. same guy, same qualifications, same skillsets, same company, same job. just 30-40 years later. goddamn. |
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Posted: 3/23/2024 2:00:00 PM EDT
[#10]
Quote HistoryOriginally Posted By wookie1562: 18% interest on how much debt, thirty dollars for a house and a degree? Quote HistoryOriginally Posted By wookie1562: Originally Posted By tsg68: They paid 18% interest on it though. In the 90's I had to move because you needed at least 18% to put down in order to buy 18% interest on how much debt, thirty dollars for a house and a degree? exactly....fuckin boomers. here's a good example...parents house....$40,000 back then 16% interest 30 year loan $537 a month, insurance was like fuck $400 a year. now? same house. is $250,000 at 5% for 30, $1342 and insurance is $7500 a year. Thanks Boomers |
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Posted: 3/23/2024 2:01:23 PM EDT
[Last Edit: DesignatedMarksman]
[#11]
I'm a millennial who graduated college with no debt and bought a house where I'm raising my 3 kids. Suck it renters.
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Posted: 3/23/2024 2:01:31 PM EDT
[#12]
Quote HistoryOriginally Posted By sirensong: i probably don't have to say it on this forum, but this is a direct result of democrat policies that claimed to be helping the poor. Ds: "let's drastically expand the scope of federal student loan guarantees, remove the limits on how much you can borrow, and wildly liberalize creditworthiness criteria." Rs: "that will have an inflationary effect." Ds: "you racists." They did it to themselves. Also for the Boomers they worked through college. They didn't depend on student loans to buy lattes. |
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Posted: 3/23/2024 2:01:52 PM EDT
[#13]
Quote HistoryOriginally Posted By tsg68: They paid 18% interest on it though. In the 90’s I had to move because you needed at least 18% to put down in order to buy… I bought my first house in the 90’s for 64K. I got a 11.8% but I had to put 20% down. I was making $10 an hour. Gen X. |
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Posted: 3/23/2024 2:01:57 PM EDT
[#14]
Quote HistoryOriginally Posted By midcap: boomers also didn't need any skills for those min wage jobs......throw a boomer at a min wage job now and they would be lost and couldn't keep up. Computers and shit. I would also like to point out to ya'll knuckle heads that it's Republicans, especially the Regan, Bush types that sold everyone out in the name of cheap shit and cheap labor. So true dude. All the boomers I know are retired as either blue collared or as some kind of administrator that got lucky and retired at or near a 100k/year income. Watching either of them trying to navigate personal electronic devices makes me want to ask their companies for refunds |
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Posted: 3/23/2024 2:02:47 PM EDT
[#15]
Quote HistoryOriginally Posted By JLPettimoreIII: in on this fucking shitshow. https://www.ar15.com/media/mediaFiles/253414/ezgif-5-89578825dc_jpg-3167121.JPG The full house 90s portion 
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Posted: 3/23/2024 2:03:01 PM EDT
[#16]
Quote HistoryOriginally Posted By Scalped: So true dude. All the boomers I know are retired as either blue collared or as some kind of administrator that got lucky and retired at or near a 100k/year income. Watching either of them trying to navigate personal electronic devices makes me want to ask their companies for refunds  |
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Posted: 3/23/2024 2:03:34 PM EDT
[#17]
Quote HistoryOriginally Posted By Scalped: The full house 90s portion |
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Posted: 3/23/2024 2:03:39 PM EDT
[#18]
Quote HistoryOriginally Posted By DesignatedMarksman: I'm a millennial who graduated college with no debt and bought a house where I'm raising my 3 kids. Suck it renters. me too, and I live in a good where my neighbors are executives and surgeons...but we aren't the norm my brother in christ. |
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Posted: 3/23/2024 2:04:45 PM EDT
[#19]
Quote HistoryOriginally Posted By Scalped: So true dude. All the boomers I know are retired as either blue collared or as some kind of administrator that got lucky and retired at or near a 100k/year income. Watching either of them trying to navigate personal electronic devices makes me want to ask their companies for refunds Quote HistoryOriginally Posted By Scalped: Originally Posted By midcap: boomers also didn't need any skills for those min wage jobs......throw a boomer at a min wage job now and they would be lost and couldn't keep up. Computers and shit. I would also like to point out to ya'll knuckle heads that it's Republicans, especially the Regan, Bush types that sold everyone out in the name of cheap shit and cheap labor. So true dude. All the boomers I know are retired as either blue collared or as some kind of administrator that got lucky and retired at or near a 100k/year income. Watching either of them trying to navigate personal electronic devices makes me want to ask their companies for refunds I really don't get it...maybe they can pull themselves up from their bootstraps and learn how to use a PC |
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Posted: 3/23/2024 2:05:26 PM EDT
[#20]
Quote HistoryOriginally Posted By DesignatedMarksman: I'm a millennial who graduated college with no debt and bought a house where I'm raising my 3 kids. Suck it renters. Now, now, amigo. You're former mil so personally I think you deserve free formal education, but... it was kinda free, right?
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Posted: 3/23/2024 2:05:50 PM EDT
[#21]
GenX here, I could work during the Summers and pay for college. Part time job during the semester was enough to for other expenses. Having the benefit of the Air National Guard paying for the tuition meant I had a lot of spare money and was able to just do very easy part time work during the semester working at a sorority, which was probably the most awesome thing of all.
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Posted: 3/23/2024 2:07:04 PM EDT
[#22]
Quote HistoryOriginally Posted By DesignatedMarksman: I'm a millennial who graduated college with no debt and bought a house where I'm raising my 3 kids. Suck it renters. You devil. |
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Posted: 3/23/2024 2:07:07 PM EDT
[#23]
Millennials aren’t worth minimum wage.
Entitled brats who are stretching out their college years to avoid adulthood and getting their own insurance |
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Posted: 3/23/2024 2:07:30 PM EDT
[#24]
Quote HistoryOriginally Posted By sirensong: i probably don't have to say it on this forum, but this is a direct result of democrat policies that claimed to be helping the poor. Ds: "let's drastically expand the scope of federal student loan guarantees, remove the limits on how much you can borrow, and wildly liberalize creditworthiness criteria." Rs: "that will have an inflationary effect." Ds: "you racists."  |
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Posted: 3/23/2024 2:10:28 PM EDT
[#25]
Quote HistoryOriginally Posted By wakeboarder: Millennials aren't worth minimum wage. Entitled brats who are stretching out their college years to avoid adulthood and getting their own insurance  Attached Filewhy wood the got dauym millennials do this? 
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Posted: 3/23/2024 2:10:34 PM EDT
[#26]
Yup - life was great back in the day for us boomers.
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Posted: 3/23/2024 2:10:56 PM EDT
[#27]
Quote HistoryOriginally Posted By midcap: I really don't get it...maybe they can pull themselves up from their bootstraps and learn how to use a PC |
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TX, USA
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Posted: 3/23/2024 2:13:21 PM EDT
[#28]
Quote HistoryOriginally Posted By Kingsmen: Just gotta pull yourself up by them bootstraps boy Just need to grow up and manage your money, you’ve had record low interest rates since fucking 2008. |
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Posted: 3/23/2024 2:13:44 PM EDT
[#29]
Quote HistoryOriginally Posted By nvcdl: Yup - life was great back in the day for us boomers. Sir, do you happen to recall how much a can of imitation crab meat was back then? And also, do you remember how many prison films were available in VHS format at a market checkout aisle? |
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Posted: 3/23/2024 2:13:47 PM EDT
[#30]
Pay your debts. Something each generation up until around 1980 or so had to do. And the longer we go, the less the younger generations want to pay for the money they want to borrow.
Now every generation did it for sure. Way to may of the 60's grads realized they could get a solid degree, borrow the money to do it, and then declare BK and walk away from their debt so the laws got changed so that student loans were no longer under BK laws covering other debt and couldn't be erased. Later generations wanted the government involved so they could get loans for stupid fvcking [sorry, no other way to describe them] degrees with zero money value attached to them. [other then if forced by the government and wokeness] Once the government got involved, colleges really REALLY jacked up tuition costs because students were now so stupid that they would agree to ridiculous amounts of debt for a degree worth burger and fry skills. And they did, and stupid students STILL agreed to them but now they cry as soon as they finish partying with a bunch of the loan money and graduate that they ''can't pay for it.'' Well, fvck ALL of you, pay your debts. If you don't, you are just another greasy POS turd worth about the life value of a ghetto druggie. Or, don't go into debt you can't pay for in the first place, especially if you aren't [real] STEM material that requires actual hard work and dedication with a VG financial return for the education dollar. |
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USA
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Posted: 3/23/2024 2:14:22 PM EDT
[Last Edit: DayandNight1701]
[#31]
My Grandparents died millionaires. The didn't have stocks or 401ks. My Grandfather laid fiberglass boat hulls and my Grandmother washed dishes at night. Not only did they manage to survive on laborers' salaries, they purchased a shitty 6 unit apartment complex in the late 70's to supplement their income.
They raised 3 children, had a modest house, two cars, etc. Totally middle class. Tell me how two immigrants, doing unskilled labor could afford that type of lifestyle today? They can't. (I mean, if you have 4 generations living in a one bedroom apartment, it sure makes it easy to save money lol) Both my Grandparents told me point blank before they died, if the US was what it is today, they'd have just stayed in the old country. Shits a lot harder than it was even 20 years ago; but the good side of it is it weeds out the pussies. Typing this as I get ready to head out for some side work this weekend. |
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Posted: 3/23/2024 2:14:47 PM EDT
[#32]
Quote HistoryOriginally Posted By Scalped: So true dude. All the boomers I know are retired as either blue collared or as some kind of administrator that got lucky and retired at or near a 100k/year income. Watching either of them trying to navigate personal electronic devices makes me want to ask their companies for refunds Quote HistoryOriginally Posted By Scalped: Originally Posted By midcap: boomers also didn't need any skills for those min wage jobs......throw a boomer at a min wage job now and they would be lost and couldn't keep up. Computers and shit. I would also like to point out to ya'll knuckle heads that it's Republicans, especially the Regan, Bush types that sold everyone out in the name of cheap shit and cheap labor. So true dude. All the boomers I know are retired as either blue collared or as some kind of administrator that got lucky and retired at or near a 100k/year income. Watching either of them trying to navigate personal electronic devices makes me want to ask their companies for refunds And yet, they did better then most of you will ever will.............................
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LA, USA
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Posted: 3/23/2024 2:14:56 PM EDT
[#33]
The American dream was nothing but a post-war boom.
Once you realize that everything that follows after is much easier to understand. |
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Posted: 3/23/2024 2:16:50 PM EDT
[#34]
Quote HistoryOriginally Posted By Scalped: Sir, do you happen to recall how much a can of imitation crab meat was back then? And also, do you remember how many prison films were available in VHS format at a market checkout aisle? |
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Posted: 3/23/2024 2:17:54 PM EDT
[#35]
Quote HistoryOriginally Posted By killstick_engaged: The American dream was nothing but a post-war boom. Once you realize that everything that follows after is much easier to understand.  Attached File |
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Posted: 3/23/2024 2:19:57 PM EDT
[#36]
I don't know a single boomer who borrowed money to go to college.
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Posted: 3/23/2024 2:20:38 PM EDT
[#37]
Originally Posted By Scalped:Must've been nice to buy a single family home for $88k and flip it for $800k with no renovations That's how most of us became millionaires by the time we were 25.  But the thing I remember most was the amazing crazy sex I had with so many beautiful girls because of the whole free love movement. 
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Posted: 3/23/2024 2:22:17 PM EDT
[#38]
In my mind the bargain was between schools and students. The government had no business subsidizing such an unpromising contract. Caveat emptor was never more necessary except perhaps when taking unproven drugs.
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Posted: 3/23/2024 2:22:23 PM EDT
[#39]
Quote HistoryOriginally Posted By BourbonBeast: Don’t use math on the boomers, they will tell you 2+2 does not equal 4 just so that they don’t have to admit that there’s even a chance that things were easier for them. It's funny because it's true |
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Posted: 3/23/2024 2:23:42 PM EDT
[#40]
Gen X here. Fuck the millennials and boomers. Fixing the plumbing in my boomer MIL's shack on my property because she is broke as fuck. Nothing is worse than a boomer with no money except maybe a millennial running their cock holster complaining about shit!
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Posted: 3/23/2024 2:25:01 PM EDT
[#41]
Quote HistoryOriginally Posted By sirensong: i probably don't have to say it on this forum, but this is a direct result of democrat policies that claimed to be helping the poor. Ds: "let's drastically expand the scope of federal student loan guarantees, remove the limits on how much you can borrow, and wildly liberalize creditworthiness criteria." Rs: "that will have an inflationary effect." Ds: "you racists." Yep. Student loans are, for most people these days, just a trap. Better off doing something that doesn’t require a degree, or will pay for your degree in some manner. |
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Posted: 3/23/2024 2:26:09 PM EDT
[#42]
Quit crying and work more over time to feed the Social Security ponzi scheme so that I can get my gibs.
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USA
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Posted: 3/23/2024 2:26:33 PM EDT
[#43]
Quote HistoryOriginally Posted By AeroEngineer: Yep. Student loans are, for most people these days, just a trap. Better off doing something that doesn’t require a degree, or will pay for your degree in some manner. And most of the degrees out there aren't worth the paper they are printed on. I know none of mine are, luckily I didn't pay for them.
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WI, USA
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Posted: 3/23/2024 2:27:17 PM EDT
[#44]
Quote HistoryOriginally Posted By wakeboarder: Millennials aren’t worth minimum wage. Entitled brats who are stretching out their college years to avoid adulthood and getting their own insurance Most millennials are in their 30s and 40s. The oldest of us have been out of college for 20 years. Hell even the youngest haven't qualified for their parents insurance for years now. |
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MN, USA
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Posted: 3/23/2024 2:27:55 PM EDT
[#45]
Pretty sure millennials are reaching their early 40's now....
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Posted: 3/23/2024 2:28:05 PM EDT
[#46]
Quote HistoryOriginally Posted By killstick_engaged: The American dream was nothing but a post-war boom. Once you realize that everything that follows after is much easier to understand. The American Dream is not nor was ever, a house a car and 2.5 kids. It is being able to follow your dream and do what you want without government interference. If your picture of sucess means living on a boat and drawing pictures of flowers to sell to tourists then you arrived. If you think its go to college get a degree in gender studies and graduate thinking you are gonna make 250k a year. Then you been sold a lie. You guys need to stop with the boomer hate. This board is getting more and more polarized daily with people hating on people, because of their age or their political beliefs aren't pure enough. Its like its been infiltrated by leftist sowing hate and discontent. |
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Posted: 3/23/2024 2:28:29 PM EDT
[#47]
Lets be honest here the only reason we vote for Republicans is because of the second amendment .
Things have only gotten harder for people not easier in the last 40 years . |
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Posted: 3/23/2024 2:28:55 PM EDT
[#48]
Quote HistoryOriginally Posted By twistedcomrade: Gen X here. Fuck the millennials and boomers. Fixing the plumbing in my boomer MIL's shack on my property because she is broke as fuck. Nothing is worse than a boomer with no money except maybe a millennial running their cock holster complaining about shit! |
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Posted: 3/23/2024 2:30:22 PM EDT
[#49]
Quote HistoryOriginally Posted By Brotherbadger: Most millennials are in their 30s and 40s. The oldest of us have been out of college for 20 years. Hell even the youngest haven't qualified for their parents insurance for years now.  @rtlm |
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Posted: 3/23/2024 2:32:01 PM EDT
[#50]
Quote HistoryOriginally Posted By BourbonBeast: Don’t use math on the boomers, they will tell you 2+2 does not equal 4 just so that they don’t have to admit that there’s even a chance that things were easier for them. All boomers? You are making an absolute statement? Absolute statements rarely hold up under the slightest of scrutiny. |
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