According to the U.S. Bureau of Labor Statistics, prices for college tuition and fees were 19.54% higher in 2020 versus 2013 (a $3,907.72 difference in value).
Between 2013 and 2020: College tuition experienced an average inflation rate of 2.58% per year. This rate of change indicates significant inflation. In other words, college tuition costing $20,000 in the year 2013 would cost $23,907.72 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.47% during this same period, inflation for college tuition was higher.
In the year 2013: Pricing changed by 4.22%, which is above the average yearly change for college tuition during the 2013-2020 time period. Compared to inflation for all items in 2013 (1.46%), inflation for college tuition was higher.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for College tuition and fees:
Below are calculations of equivalent buying power for College tuition, over time, for $20000 beginning in 2013. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|