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econonut | 2 years ago

It's also wrong. His numbers are exaggerated and provided without any source. In 1970, it was closer to 250 hours of minimum wage for tuition alone (no living expenses) as minimum wage was $1.60 and the cost of tuition for a public university (near me) was $420 for 30 credit hours. Today, that same university is $6,270 for 30 credit hours of tuition, which is around 520 hours of work at $12/hour (which is $1.60 expressed in nominal 2023 dollars and is also the minimum wage in the state).

While I realize that's still a little more than 2x the amount of working hours, it's definitely not as depressing as 20x the amount of working hours as the poster stated.

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segfaltnh|2 years ago

What if you include living expenses?