Here's the problem.
Boomers at that age made decent enough money where they could afford a house. If they were lucky enough to graduate from college, they did so without debts.
Case in point. I graduated from college in 1985 with no debt. The National Guard paid my tuition, and I worked minimum wage jobs to cover the rest.
But back then, college was affordable and I didn't need to go into lifetime debt to pay for it.
Tuition at UIC in 1982 was about $1500 a year. (Or adjusted for inflation, about $4700 today.) But tuition at UIC, including fees, is close to $18,500 today. Or $74,000 to earn a four-year degree.
What changed? Well, back in the day, the State and federal governments heavily subsidized state schools like UIC. Today, the expenses of such schools are entirely borne on the backs of the students, and the administrators spend like sailors at a whorehouse.
