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Comment by kartan | Hacker News Reader

> I suspect that a large part of that has to do with student loans

I think that this is not just a USA issue but it is also happening in all Occident. Student loans are just one of the reasons. But, it is bigger than that.

e.g. UK: https://www.ft.com/content/81343d9e-187b-11e8-9e9c-25c814761...

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Can't compare UK here, education is free in Scotland, £9k/annually in Wales (Welsh government can provide 67% grant every year, so it goes down to £3.3k), in England it's the most expensive, over £9k/ann and Student Loan Company has highest interest rates there.

Those loans don’t need to be repaid, they’re a graduate tax - 9% above £25k for 30 years.

Most people won’t earn enough to pay a penny off the tuition - only the cost of living loans. Only the highest paid graduates actually pay tuition

That's not correct! If at any point in your life you make more than £25k they will add this tax on you, and your interested on the student loan is still growing, even when you're under £25k.

You're charged interest only from the day of your first repayment.

https://media.slc.co.uk/repayment/qsg/how-much-do-i-repay.ht...

> In fact, this chart understates how badly things have gone for millennials, because it shows incomes before housing costs.

No, it does not, because the chart is weighted with CPI, which contains the housing cost. According to that chart, the millenials have the best living standards, but I seriously question the quality of the source, where the young adults take-home salary is above £15K, UK-wide.

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