Costs have jumped 55% in a decade at public colleges
In the worst year during this period, for example, the average cost of private four-year schools rose 4.1% in 2011-12 to $27,880, from $26,770 the prior year, and the cost of four-year public schools reached $8,280, up 8.5% from $7,630 the year before, GoBankingRates found.
To see just how much the price of a postsecondary education has increased, the personal finance website analyzed data from the National Center for Education Statistics and the College Board going back to 1964. In 1964-1965, the cost of a four-year private school was $1,160 per year, on average. From 1964 to 2019, the cost of tuition jumped just under 3,000%. Meanwhile, the cost of a four-year public school soared to just over 3,800%, from a mere $261 annually, GoBankingRates said.
The significant increase in college costs has outpaced inflation and far outpaced family income over decades .
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