According to the U.S. Bureau of Labor Statistics, prices for college tuition and fees are 205.36% higher in 2024 versus 1998 (a $41,071.66 difference in value).
Between 1998 and 2024: College tuition experienced an average inflation rate of 4.39% per year. This rate of change indicates significant inflation. In other words, college tuition costing $20,000 in the year 1998 would cost $61,071.66 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.55% during this same period, inflation for college tuition was higher.
In the year 1998: Pricing changed by 4.22%, which is below the average yearly change for college tuition during the 1998-2024 time period. Compared to inflation for all items in 1998 (1.55%), inflation for college tuition was higher.
Below are calculations of equivalent buying power for College tuition, over time, for $20,000 beginning in 1998. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 1998 | $20,000.00 | 4.22% |
| 1999 | $20,794.02 | 3.97% |
| 2000 | $21,653.78 | 4.13% |
| 2001 | $22,760.49 | 5.11% |
| 2002 | $24,313.39 | 6.82% |
| 2003 | $26,350.63 | 8.38% |
| 2004 | $28,847.12 | 9.47% |
| 2005 | $31,000.80 | 7.47% |
| 2006 | $33,078.70 | 6.70% |
| 2007 | $35,148.23 | 6.26% |
| 2008 | $37,340.28 | 6.24% |
| 2009 | $39,584.22 | 6.01% |
| 2010 | $41,640.45 | 5.19% |
| 2011 | $43,732.47 | 5.02% |
| 2012 | $45,853.49 | 4.85% |
| 2013 | $47,790.18 | 4.22% |
| 2014 | $49,555.48 | 3.69% |
| 2015 | $51,275.08 | 3.47% |
| 2016 | $52,655.11 | 2.69% |
| 2017 | $53,707.49 | 2.00% |
| 2018 | $54,895.17 | 2.21% |
| 2019 | $56,462.57 | 2.86% |
| 2020 | $57,239.58 | 1.38% |
| 2021 | $57,736.92 | 0.87% |
| 2022 | $58,984.49 | 2.16% |
| 2023 | $60,120.29 | 1.93% |
| 2024 | $61,071.66 | 1.58%* |
* Not final. See inflation summary for latest details.
** Extended periods of 0% inflation usually indicate incomplete underlying data. This can manifest as a sharp increase in inflation later on.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for College tuition and fees:
| Year | 1977 | 1978 | 1979 | 1980 | 1981 | 1982 | 1983 | 1984 | 1985 | 1986 | 1987 | 1988 | 1989 | 1990 | 1991 | 1992 | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
| CPI | 57.900 | 59.908 | 64.669 | 70.831 | 79.623 | 90.323 | 99.723 | 109.938 | 119.923 | 129.631 | 139.385 | 150.000 | 161.900 | 174.969 | 192.785 | 213.515 | 233.492 | 249.792 | 264.815 | 279.800 | 294.100 | 306.523 | 318.692 | 331.869 | 348.831 | 372.631 | 403.854 | 442.115 | 475.123 | 506.969 | 538.687 | 572.283 | 606.674 | 638.188 | 670.251 | 702.758 | 732.440 | 759.495 | 785.850 | 807.000 | 823.129 | 841.332 | 865.354 | 877.263 | 884.885 | 904.005 | 921.413 | 935.994 |