An alarming number of grads regret paying for college

It’s unsurprising that younger people regret paying for college more than older generations, given how much more expensive college has become. In 1960, the median tuition at private colleges was $475, or about $4,000 in today’s dollars. In 1970, it was $1,561 ($13,149 today) for four-year private institutions and $358 ($3,015 today) for public ones.

Today, in contrast, according to College Board, the average cost of one year at a public university for an in-state student is $20,090, and $34,220 for out-of-staters. The cost of private school, including tuition and fees, can be almost twice as high, although top-tier private schools that can offer generous aid and scholarships can also be a surprisingly good deal.

As a result, millennials are in debt. For more than half of them, the situation is bad enough that they would even give up the right to vote to have their loans forgiven.

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