Lots of good points being made on all sides in this thread. My $0.02: 1) Everybody's frame of reference is their own personal experience, which is going to be different for many people. B) My frame of reference is that I went to a high school that had no advance placement courses, no honors classes, and my class had a dropout rate of almost 25%. And no internet. How the hell was I supposed to compete for scholarships based on ACT scores? My family didn't have a lot of money, but I knew that the state of WI had a program where if you finished in the top 1% of your class you could go to any state school tuition-free. I busted my ass in high school - and took a lot of crap from people who resented me doing well, and because of no honors classes I had to sit in the same classes with them all damn day - and got that scholarship. I was making six figures by the age of 31. I made a lot of sacrifices to get there, including moving to places where I knew nobody. I forced myself to get better. I forced myself to understand finance and investing (and because of that, I knew the recession of 2008 was coming back in 2006.) If people complain about their situation, the first questions I ask are what sacrifices have you made and what are you doing to educate yourself to the reality of the world? If the answers are anywhere close to "not much", you can guess how much sympathy I have. C) Every generation has been sold a bill of goods. For Millennials, it's student loans. For Boomers, it's that pensions and Social Security would be there to take care of them and that they could life a decent life with a decent wage and raise a family. While Millennials have no money, Boomers have been screwed out of billions of it by investment scams, telephone/internet scams, companies/pensions being wiped out, and the recessions of the 70's, early 2000's, and late 2000's. Boomers put everything into their home, and then either lost it to a recession or divorce. Speaking of divorce, Gen X's bill of goods was the Brady Bunch. Who the hell grew up in a house like that? We were lucky to live with two parents (who weren't yelling at each other), lucky to come home from school to one, and lucky not be held as barter between both of them. Oh, and many of our fathers came home from Vietnam - or lost friends there - and took that frustration out on us, just as Boomer's parents who served in WWII took it out on them. D) As to why college is much more expensive now, the official line from UW-Madison is that funding from the state has drastically decreased over the last 20 years. Funding from the state used to cover most of tuition; now it only covers maybe 1/4th, if that. Most of UW's funding - according to them - is privately generated, and UW-Madison is very close to being able to qualify as a private school. According to them.