Tuesday, April 22, 2014

IT SOUNDS NICE, BUT...

Forget about “working your way through college,” said Svati Kirsten Narula in TheAtlantic​.com. While many adults love to complain about “lazy and entitled Millennials,” the truth is, “when it comes to paying for a college education, work ethic isn’t the limiting factor.” Without financial aid or family help, a student earning today’s minimum wage simply won’t make enough money to cover tuition, which was not the case in years past. At Michigan State University, for example, one credit hour cost $24.50 in 1979, so a student making the minimum wage of $2.90 per hour “could earn enough in one day to pay for one academic credit hour.” Adjusted for inflation, one MSU credit should now cost $79.23, but its actual current cost is $428.75, meaning a student earning the current federal minimum of $7.25 would need to work 60 hours for every one hour of schooling.

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