That had nothing to do with the minimum wage (which has been lower than $15 of today’s dollars since inception), but because of how much cheaper college was back then.
College tuition has massively outpaced inflation, much less wage growth.
The policies (chiefly the change that made student loans no longer dischargeable in bankruptcy) that rocketed college tuition up are a MUCH more significant factor in college affordability, that’s just a fact.
Meanwhile the same job 70 years ago paid the equivalent of $34 plus benefits
you could go to college on a part time job and have no debt.
That had nothing to do with the minimum wage (which has been lower than $15 of today’s dollars since inception), but because of how much cheaper college was back then.
“Its not about pay, its just about how more affordable things were for the pay you earned back then!”
College tuition has massively outpaced inflation, much less wage growth.
The policies (chiefly the change that made student loans no longer dischargeable in bankruptcy) that rocketed college tuition up are a MUCH more significant factor in college affordability, that’s just a fact.
The minimum wage in the US has never been higher than about $12 in today’s dollars.
And the workers weren’t all paid minimum wages at the time.