Tuition Costs Continue to Skyrocket

The U.S. Department of Education has reported that tuition costs continue to rise with costs increasing faster than inflation and by approximately 50% just in the last 10 years:

For the 2007–08 academic year, annual prices for undergraduate tuition, room, and board were estimated to be $11,578 at public institutions and $29,915 at private institutions. Between 1997–98 and 2007–08, prices for undergraduate tuition, room, and board at public institutions rose by 30 percent, and prices at private institutions rose by 23 percent, after adjustment for inflation.

Average undergraduate tuition and fees and room and board rates charged for full-time students in degree-granting institutions, by type and control of institution: Selected years, 1980-81 to 2007-08
Year and control of institution All institutions 4-year institutions 2-year institutions
All institutions
1980–81 $3,101 $3,499 $2,230
1990–91 6,562 7,602 3,930
2000–01 10,818 12,922 5,460
2001–02 11,380 13,639 5,718
2002–03 12,014 14,439 6,252
2003–04 12,953 15,505 6,705
2004–05 13,792 16,509 7,086
2005–06 14,629 17,447 7,231
2006–07 15,483 18,471 7,466
2007–081 16,245 19,362 7,645
Public institutions
1980–81 $2,373 $2,550 $2,027
1990–91 4,757 5,243 3,467
2000–01 7,586 8,653 4,839
2001–02 8,022 9,196 5,137
2002–03 8,502 9,787 5,601
2003–04 9,247 10,674 6,012
2004–05 9,864 11,426 6,375
2005–06 10,454 12,108 6,492
2006–07 11,049 12,797 6,815
2007–081 11,578 13,424 6,966
Private institutions2
1980–81 $5,470 $5,594 $4,303
1990–91 12,910 13,237 9,302
2000–01 21,368 21,856 14,788
2001–02 22,413 22,896 15,825
2002–03 23,340 23,787 17,753
2003–04 24,624 25,069 19,558
2004–05 25,810 26,257 20,093
2005–06 26,889 27,317 21,170
2006–07 28,439 28,919 20,284
2007–081 29,915 30,393 21,712

 

1Preliminary data based on fall 2006 enrollment weights.
2Because of their low response rate, data for private 2-year colleges must be interpreted with caution.

NOTE: Data are for the entire academic year and are average total charges for full-time attendance.

SOURCE: U.S. Department of Education, National Center for Education Statistics. (2009). Digest of Education Statistics, 2008 (NCES 2009-020), Table 331.

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5 Responses to Tuition Costs Continue to Skyrocket

  1. Rod G says:

    These numbers really seem low. If you take a look at some of the schools at the top of the college rankings, their tution is even higher!

  2. Go Julie K! says:

    I have to agree with Julie K. Prices are going up, but I don’t think the value of the education is really keeping pace.

  3. PetersonG says:

    This is crazy. If prices keep increasing, who is going to pay or be able to pay? It is not surprising student loan debt passed up credit card debt. Schools are out of control. They think they can charge whatever they want, and people will just keep paying. I don’t care how many student loans or financial aid dollars are made available…guess who has to pay back student loans…students…

  4. Julie K says:

    Are you telling me that the quality of the education has increased by 50% in the last 10 years or that the value of undergraduate degree has increased by 50% over the 10 years? I don’t think so!

  5. 99mph says:

    Tuition costs seem out of control! At least gas prices go up and down…tuition costs just go up! This is a little ridiculous!

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