Everyone knows that the cost of health care has become a bigger and bigger burden in recent years, but even that pales in comparison to another skyrocketing cost: College.
The folks at Moody’s Analytics crunched some government numbers and found that the cost of tuition and fees has more than doubled since 2000. That’s a bigger percentage increase than, well, pretty much anything else.
Given a chart like this, it’s no wonder we view college as overpriced and unaffordable – but still worth it for the professional and other advantages.
Still, there is a downside to such a pricey education: Debt. The Moody’s paper notes that student loan balances also have risen steadily in recent years, leaving many students starting out their careers with a hefty chunk of money to pay off.