According to the U.S. Bureau of Labor Statistics, prices for college tuition and fees were 11.80% higher in 2021 versus 2015 (a $2,359.72 difference in value).
Between 2015 and 2021: College tuition experienced an average inflation rate of 1.88% per year. In other words, college tuition costing $20,000 in the year 2015 would cost $22,359.72 in 2021 for an equivalent purchase. Compared to the overall inflation rate of 1.66% during this same period, inflation for college tuition was higher.
In the year 2015: Pricing changed by 3.47%, which is above the average yearly change for college tuition during the 2015-2021 time period. Compared to inflation for all items in 2015 (0.12%), inflation for college tuition was much 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 2015. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|