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.

Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.

  • Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.