According to the U.S. Bureau of Labor Statistics, prices for college tuition and fees were 15.28% higher in 2020 versus 2014 (a $3,056.07 difference in value).
Between 2014 and 2020: College tuition experienced an average inflation rate of 2.40% per year. This rate of change indicates significant inflation. In other words, college tuition costing $20,000 in the year 2014 would cost $23,056.07 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.45% during this same period, inflation for college tuition was higher.
In the year 2014: Pricing changed by 3.69%, which is above the average yearly change for college tuition during the 2014-2020 time period. Compared to inflation for all items in 2014 (1.62%), 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 2014. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|