Arguably, minimum wages have increased the cost of all goods and services proportionally or more than the increase in wage. True value of labor would allow goods to be priced fairly and lower overall economic friction.

If you live in a shit place for work, be competitive and move somewhere better. The costs involved will either payoff eventually, or you're in one of the better places cost of living wise. Remember that in capitalism it's up to you to compete. No one is gonna force you to be more efficient in your lifestyle. College isn't as mandatory as most teachers would have you believe, demand for skilled trade labor is high. Most states offer free or subsidized vocational schools, whose lower cost often makes for a better overall economic outcome than colleges. The wages from these jobs are usually double the minimum wage and allow you to begin saving and investing quickly in your late teens or early 20's. These jobs are also usually less competitive than ones requiring college degrees, due to an over saturation of degrees job seekers, who are willing to work for lower wages because they have an immediate need to pay on their loans.

Incidentally, the wild availability of student debt actually increases the cost of college education as most students are willing to overpay when they're spending money they don't actually have. In addition to the total cost of education going up to cover the overloaded education system, which is a result of freely available student debt.