Back in the 1940s, you could get a four-year college degree for under $500, even at the most prestigious colleges. Back then, it wasn’t even necessary to get a degree. It was seen as an accomplishment for those going over and beyond their standard education.
Nowadays, a four-year college degree is the equivalent to a high school diploma, and the price has launched itself into orbit. On average, your typical college student will graduate with $25,000 in debt, if not more. I don’t think even our grandparents had that much in total debt in most cases, let alone student debt.
If you’re thinking about college, or if you’re a parent with college-bound kids, then the infographic below may be of some interest to you. Consolidated Credit has designed this side-by-side comparison of the difference in costs of each generation’s college educations to give you some important information you need to know.
Here you can view the differences in educational expense, how it changed over time, and hopefully you can get a little insight on how to prepare your future college finances without taking on too much student debt.