The cost of college tuition, room & board is out of control.
With an average inflation rate of 6.19% from 1977 to 2023, that's higher than the inflation rate itself, which has averaged 3.53% in the same period.
In fact, the skyrocketing costs of college tuition are outpacing the rate of inflation by 171.5%.
Adjusted for inflation (2023 USD $), here's the average cost of college through the years, including room & board, showing that it really is going up lately:
1971-72
Private: $19,749
Public: $9,504
1972-73
Private: $20,229
Public: $10,147
1973-74
Private: $19,945
Public: $9,907
1974-75
Private: $18,998
Public: $9,167
1975-76
Private:$18,628
Public: $9,014
1976-77
Private: $19,129
Public: $9,319
1977-78
Private:$19,074
Public: $9,178
1978-79
Private: $19,249
Public: $8,982
1979-80
Private:$18,802
Public: $8,742
1980-81
Private: $18,541
Public: $8,459
1981-82
Private: $18,955
Public: $8,601
1982-83
Private: $20,065
Public:$9,003
1983-84
Private: $21,317
Public: $9,417
1984-85
Private: $22,275
Public: $9,700
1985-86
Private: $22,656
Public: $9,820
1986-87
Private: $24,682
Public: $10,147
1987-88
Private: $25,215
Public:$10,125
1988-89
Private: $27,001
Public:$10,321
1989-90
Private: $27,697
Public: $10,408
1990-91
Private: $28,362
Public:$10,669
1991-92
Private:$28,590
Public: $10,974
1992-93
Private: $29,352
Public: $11,388
1993-94
Private:$30,016
Public: $11,802
1994-95
Private: $30,506
Public: $12,237
1995-96
Private:$31,268
Public: $12,128
1996-97
Private: $32,085
Public: $12,477
1997-98
Private:$33,098
Public: $12,771
1998-99
Private: $34,393
Public: $13,065
1999-2000
Private: $35,351
Public: $13,293
2000-01
Private: $35,308
Public: $13,402
2001-02
Private: $36,886
Public: $13,957
2002-03
Private: $37,888
Public: $14,730
2003-04
Private: $38,879
Public: $15,710
2004-05
Private: $39,793
Public: $16,483
2005-06
Private:$40,360
Public: $17,017
2006-07
Private:$41,122
Public: $17,311
2007-08
Private: $42,134
Public: $17,866
2008-09
Private: $42,156
Public: $17,920
2009-10
Private: $44,682
Public: $19,412
2010-11
Private: $45,901
Public: $20,359
2011-12
Private: $46,108
Public:$20,838
2012-13
Private: $47,240
Public: $21,339
2013-14
Private: $48,111
Public: $21,589
2014-15
Private: $48,884
Public: $21,796
2015-16
Private: $50,441
Public: $22,493
2016-17
Private: $51,704
Public: $22,972
2017-18
Private: $52,673
Public: $23,299
2018-19
Private: $52,815
Public: $23,266
It's clear to see where the trends are heading. For more recent years and additional data, view the full Trends in College Pricing report from the CollegeBoard.
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