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A quick thread on college costs across generations from @AARPpolicy's new report: aarp.org/ppi/info-2019/… When the first Baby Boomers started college in 1964, the average cost at a 4-year public college was $951 per year--$7,256 in today's dollars. /1
@AARPpolicy For Gen Z, starting in 2015? Over $19,000 at a 4-year public, and nearly $40,000 at a private nonprofit... about 2.5x 1964 levels, even *after* adjusting for inflation. Now these are the published prices, but what do students and families actually pay? /2 
@AARPpolicy Financial aid from the federal government, states, and schools helps plug the gap. But what people actually pay has rapidly grown too. Inflation-adjusted net prices increased 63% for 4-year publics and 27% for 4-year private nonprofits over the past 20 years. /3
@AARPpolicy These average net prices would be a huge chunk of the median family's income today. (For African-Americans and Latinos, more than a quarter of it.) So students and parents both turn to borrowing, leading to $1.5 trillion in outstanding student loan debt. /4
And what does this mean for retirement? If student loan payments get in the way of retirement saving, young workers will need to work 2 to 7 YEARS longer just to have the same account balances as their peers without debt. Take a look at the full report: aarp.org/ppi/info-2019/… /5
