Unlike millennials, Generation X was the last generation in the U.S. for whom higher education was broadly financially remunerative. In 2019, the Federal Reserve Bank of St. Louis published research (using data from the 2016 "Survey of Consumer Finances") demonstrating that after controlling for race and age, cohort families with heads of household with post-secondary education and born before 1980 have seen wealth and income premiums, while, for those after 1980, the wealth premium has weakened to a point of statistical insignificance (in part because of the rising cost of college). The income premium, while remaining positive, has declined to historic lows, with more pronounced downward trajectories among heads of household with postgraduate degrees.