According to a 2014 Pew Research report, Millennials – those born after 1980 – are the best-educated generation in the history of the United States. More than one-third have bachelor’s degrees, compared to one in four of their parents and grandparents.
This statistic may surprise many readers, considering the exponential increase in the cost of education during that period. According to the National Center for Education Statistics, a graduate in 1979 incurred less than $10,000 in education costs (in 2012 dollars), including room and board. By contrast, according to COLLEGEdata, a 2013 graduate spent almost $120,000 for the same degree and owed more than $33,000 in school debt as of graduation.