According to the U.S. Bureau of Labor Statistics, prices for college tuition and fees were 6.58% higher in 2020 versus 2017 (a $1,315.31 difference in value).
Between 2017 and 2020: College tuition experienced an average inflation rate of 2.15% per year. This rate of change indicates significant inflation. In other words, college tuition costing $20,000 in the year 2017 would cost $21,315.31 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.83% during this same period, inflation for college tuition was higher.
In the year 2017: Pricing changed by 2%, which is below the average yearly change for college tuition during the 2017-2020 time period. Compared to inflation for all items in 2017 (2.13%), inflation for college tuition was lower.
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 2017. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|