I agree - calculation inside
In 1977-1981 my VT bill was roughly $1800 per year INCLUDING room & board.
If you go to the inflation calculator here: https://www.usinflationcalculator.com/ the inflation rate from 1977 to 2019 is 322.6%. That means that the $1800 in today's money is worth about $7,606.69.
Except the cost of tuition, fees and room and board for the 2018-2019 school year at VT was $22,810.
My parents easily paid for my schooling and I graduated with no debt. To put my kids through VT, it took our whole family. We (the parents) helped, the grandparents helped, and the kids took out some loans. The kids loans each total about 2-3x the cost of my entire college education.
This is really going to have an impact down the road. Kids won't have the discretionary income that we had. They will have trouble saving money to buy a house, won't put as much in their retirement accounts, and more. Luckily my kids are paying down their loans rapidly because they have good jobs but I am worried about that generation. Not everyone can work in the highest salaried jobs. How would someone else do that on a teacher's salary?
[Post edited by GFallsFan at 06/13/2019 1:08PM]
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In response to this post by VTSnake)
Posted: 06/13/2019 at 12:40PM