woman with help sign and paper boat The negative ramifications of student loan debt arefar-reaching, making financial wellness programs more importantthan ever. (Photo: Shutterstock)

With tuition rising almost eight times faster than wages, it isno wonder that millennial student debt has skyrocketed well beyondthe level experienced by their Gen X and Baby Boomer parents.

According to the National Center for Education Statistics, theaverage cost of a college education in 2016 was $104,480–double thecost of the same degree in 1989 (adjusted for inflation).Meanwhile, wages increased only $5,000 per year during the sameperiod of time, reports the Federal Reserve Bank of St. Louis.

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