Education: Tycoons (j. g.)

After studying the finances of U.S. high-school pupils, Scholastic Magazine concluded that the nation's 13 million teen-agers have a combined income of $7 billion a year. Whether they rely solely on part-time jobs (30%), allowances (45%), or both (22%), they average $10.55 a week, of which $6.52 is spent and $4.03 saved. The State University of Iowa also had financial news. Of the university's 9,000 students (1955-56), 55% got part-time jobs through the student placement office. They worked as janitors, lab assistants, waiters and clerks, mowed lawns, washed windows, shoveled snow. Total earnings: $1,373,500.

...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!