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.
