KEYWORDS: student loans loan debt estudiante educacion graduar graduado diploma university cost prestamo coste universidad deuda krtbusiness business krteducation education krtnational national krtworld world krtintlbusiness krtnamer north america krtpersonalfinance personal finance krtusbusiness u.s. us united states krt negocios illustration ilustracion grabado co contributor coddington coker 2005 krt2005
Based on the percentage increase of the University of Minnesota tuition in 1960 ($213) to the frozen amount of $12,000 today:
• A full size Chevrolet would cost $156,000 and gas for it $17 a gallon.
• A starter home in Bloomington would be in the $840,000 range, and your young child’s school lunch $25.
• The starting wage for an entry-level job for a college graduate would be in the $200,000 range.
The minimum wage in 1960 was $1 per hour. I attended a Minnesota private college in 1960, and tuition was twice as much as the University of Minnesota. The tuition this fall will be $35,000.
Is today’s tuition for college-bound youth equitable? You decide.
Robert Gyurci, Bloomington