Despite the mind-numbing mantra we constantly hear from our political leaders and central bankers that inflation does not exist, there are certain parts of our lives where even a freeze-dried coffee bean can see that prices are clearly rising: At the grocery store. At the doctor’s office. At the gas pump.
One of these places is also our hallowed institutions of higher learning. It’s no secret that the cost of university education, especially in the United States, is staggering. Tuition at private schools in the US averages $30,000 annually, and students often graduate over $50,000 in debt.
This leads to a fancy form of indentured servitude; students with this kind of debt load are forced to take the first paid work they can find, and they’ll work for the next 14-years of their life just to start back at zero.