"My dad loves telling me how his mate paid for university with money earned from working at the local pub three nights a week. Today? The average UK student graduates with over £35,000 in debt. In the US, it's even worse, with many facing six-figure debts. I was the first in my family to go to university, and while it opened doors for me, the financial burden was crushing. My grandparents couldn't understand why I was still paying off loans a decade after graduating."
"Those days feel like ancient history now. Growing up working-class outside Manchester, I watched my father come home from the factory with stories about how different things were when he was young. Back then, a single income could support a family, and simple pleasures didn't require a second mortgage. The more I dig into this generational divide, the more I realize just how dramatically the economic landscape has shifted."
"The shift happened gradually. In the 1960s and 70s, many countries heavily subsidized higher education, viewing it as a public good. Now it's treated as a private investment, with students bearing the full cost of their "human capital development." 2) Banking services Here's something that blows my mind: banks used to pay you to keep money with them. Decent interest rates on savings accounts were standard. Now? We pay monthly fees for the privilege of letting banks use our money. Want to withdraw cash from the"
A working-class upbringing outside Manchester illustrates a stark generational shift in affordability. A single income once supported families and simple pleasures were inexpensive. Higher education has moved from public subsidy to private investment, leaving many graduates with substantial debt (over £35,000 on average in the UK and six-figure sums for many in the US). Banking has shifted from paying savers to charging customers monthly fees and limiting access. Numerous services and rights that were once affordable or free now create significant financial strain for younger generations compared with past cohorts.
Read at Silicon Canals
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