According to the U.S. Bureau of Labor Statistics, prices for college tuition and fees are 8.84% higher in 2022 versus 2017 (a $1,768.43 difference in value).
Between 2017 and 2022: College tuition experienced an average inflation rate of 1.71% per year. In other words, college tuition costing $20,000 in the year 2017 would cost $21,768.43 in 2022 for an equivalent purchase. Compared to the overall inflation rate of 3.30% during this same period, inflation for college tuition was lower.
In the year 2017: Pricing changed by 2%, which is above the average yearly change for college tuition during the 2017-2022 time period. Compared to inflation for all items in 2017 (2.13%), inflation for college tuition was lower.
Below are calculations of equivalent buying power for College tuition, over time, for $20,000 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|
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for College tuition and fees: