According to the U.S. Bureau of Labor Statistics, prices for college tuition and fees were 8.76% higher in 2021 versus 2016 (a $1,752.28 difference in value).
Between 2016 and 2021: College tuition experienced an average inflation rate of 1.69% per year. In other words, college tuition costing $20,000 in the year 2016 would cost $21,752.28 in 2021 for an equivalent purchase. Compared to the overall inflation rate of 2.01% during this same period, inflation for college tuition was lower.
In the year 2016: Pricing changed by 2.69%, which is above the average yearly change for college tuition during the 2016-2021 time period. Compared to inflation for all items in 2016 (1.26%), 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 2016. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|