CLEVELAND, Ohio – A lot of college students probably have heard this from time to time: “You can work your way through school like I did.”
But over time, that’s become nearly impossible to do, without also going into debt, scoring a lot of help through scholarships and grants, or getting substantial support from Mom and Dad.
Why? Two big reasons: (1) the rising cost of college and (2) a minimum wage that has not kept up with college inflation. Whereas a minimum wage job could cover the college costs in the early 1980s, it now would fall about $13,000 short of the tuition, room and board bill for the average Ohio public university, cleveland.com found.
The current edition of That’s Rich! – the personal finance column published on cleveland.com and in The Plain Dealer – put dollars and cents on this trend over the last 40 years. Check it out at this link – See just how much a minimum wage job increasingly falls short of paying for college these days
Here are other previous That’s Rich! columns on a variety of topics.
Medicare open enrollment starts Oct. 15; what you need to know
Answers to qualifying for unemployment, the $300 payments and disputed Ohio claims – Q&A
Is your budget tight during coronavirus? See these tips to help you cope, now and in the long run
How to get $300 extra in unemployment, 13 weeks in extra benefits, and more: Q&A
How to avoid scams; newest fraud tricks; can payment be stopped?
Where’s my $300 extra for unemployment? How about my missing stimulus check? – Q&A
Organize your financial records in case you get sick – a reader Q&A
Explaining Ohio’s maze of city income tax rates and credits, and why you should log where you’ve been working
With mortgage rates at historic lows, should you join the rush to refinance? – That’s Rich!
Ohio has $3.2 billion in unclaimed funds; find out if some of that money is yours – That’s Rich!
Roth retirement plan or traditional IRA and 401(k) plans? Is this the time to adjust your thinking?
Taking college classes online this fall? Here’s how students can save a lot of money
Does it make sense to pay off your mortgage early? Here’s what to consider
CARES Act makes this ideal time for a student-loan payment checkup
Coronavirus and taxes: Revised filing deadline nears; IRS not yet processing paper forms
What you need to know to get an unemployment check in Ohio
$300 Ohio unemployment benefit to be retroactive, other updates on unemployment, stimulus checks
Rich Exner, data analysis editor, writes cleveland.com’s and The Plain Dealer’s personal finance column – That’s Rich! Follow on Twitter @RichExner.
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