doodle of shark The averagestarting salary for a 2018 college graduate is $50,390, up 2.8percent from 2017, but the just-released July CPI report shows theinflation rate rose 2.9 percent over the last year. Does the phrase“treading water” come to mind? (Photo: Shutterstock)

(Bloomberg Opinion) –It's that time of year, when studentsprepare to head back to the classroom. For many taking the nextstep in higher education, the question is increasingly, “Is itworth it?” Millions of millennials have already put off settlingdown because of the rising costs of servicing college debts to the detriment of economicgrowth.

Student loans are now the second-largestcategory of household debt in America, topping$1.4 trillion and trailing only mortgages at $9trillion.

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