College tuition price inflation, 2024→1977

College Tuition Inflation Calculator

Prices for College Tuition, 2024-1977 ($20,000)

According to the U.S. Bureau of Labor Statistics, prices for college tuition and fees were 93.82% lower in 1977 versus 2024 (a $18,764.53 difference in value).

Between 2024 and 1977:College tuition experienced an average inflation rate of -5.75% per year. This rate of change indicates significant deflation. In other words, college tuition costing $20,000 in the year 2024 would cost $1,235.47 in 1977 for an equivalent purchase. Compared to the overall inflation rate of -3.44% during this same period, inflation for college tuition was lower.

In the year 2024: Pricing changed by 1.72%, which is significantly above the average yearly change for college tuition during the 2024-1977 time period. Compared to inflation for all items in 2024 (2.95%), inflation for college tuition was lower.

Price Inflation for College tuition and fees since 1977

Consumer Price Index, U.S. Bureau of Labor Statistics

Years with the largest changes in pricing: 1982 (13.44%), 1981 (12.41%), and 1992 (10.75%).

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Buying power of $20,000.00 since 2024

Below are calculations of equivalent buying power for College tuition, over time, for $20,000 beginning in 2024. Each of the amounts below is equivalent in terms of what it could buy at the time:

Year	USD Value	Inflation Rate
2024	$20,000.00	1.72%
2025	$20,382.58	1.91%
2026	$20,651.13	1.32%*

* Not final. See inflation summary for latest details.
** Extended periods of 0% inflation usually indicate incomplete underlying data. This can manifest as a sharp increase in inflation later on.

Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for College tuition and fees:

Year	1977	1978	1979	1980	1981	1982	1983	1984	1985	1986	1987	1988	1989	1990	1991	1992	1993	1994	1995	1996	1997	1998	1999	2000	2001	2002	2003	2004	2005	2006	2007	2008	2009	2010	2011	2012	2013	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026
CPI	57.900	59.908	64.667	70.833	79.625	90.325	99.725	109.942	119.925	129.633	139.383	150.000	161.900	174.967	192.783	213.517	233.492	249.792	264.817	279.800	294.100	306.525	318.692	331.867	348.833	372.633	403.850	442.117	475.125	506.967	538.687	572.283	606.674	638.188	670.251	702.758	732.440	759.495	785.850	807.000	823.129	841.332	865.354	877.263	884.885	904.005	921.413	937.295	955.224	967.810

Adjust college tuition prices for inflation

Start with the inflation rate formula:

CPI in 1977 / CPI in 2024* 2024 USD value = 1977 USD value

Then plug in historical CPI values from above. The CPI for College tuition and fees was 937.295 in the year 2024 and 57.900 in 1977:

57.900 / 937.295* $20,000 = $1,235.47

Therefore, according to U.S. Bureau of Labor Statistics, $20,000 in 2024 has the same "purchasing power" as $1,235.47 in 1977 (in the CPI category of College tuition and fees).

Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for College tuition and fees in 1977. In addition to college tuition, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.