Thursday, September 22, 2016

The anxiety is real: College costs rise more, relative to income, for the middle class - Catharine Bond Hill, Washington Post

Those in the middle haven’t been imagining their pain. While all households are facing rising costs of higher education relative to incomes, those truly in the middle of the income distribution are facing larger increases relative to their incomes than those households above them in the income distribution. Between 1975 and 2014, the average income of U.S. households in the top 5 percent of the income distribution increased by 82 percent, while the average income of those households in the middle 20 percent increased by only 15 percent. Moreover, in constant 2014 dollars, the gap between the average incomes for these two groups increased from $135,700 to $278,300.

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