According to the U.S. Bureau of Labor Statistics, prices for college tuition and fees are 37.28% higher in 2023 versus 2011 (a $7,456.38 difference in value).
Between 2011 and 2023: College tuition experienced an average inflation rate of 2.68% per year. This rate of change indicates significant inflation. In other words, college tuition costing $20,000 in the year 2011 would cost $27,456.38 in 2023 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 2011: Pricing changed by 5.02%, which is above the average yearly change for college tuition during the 2011-2023 time period. Compared to inflation for all items in 2011 (3.16%), inflation for college tuition was higher.
Below are calculations of equivalent buying power for College tuition, over time, for $20,000 beginning in 2011. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|
* 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: