Super fact 92 : College tuition and fees increased by 207% between 1997 and 2022, which corresponds to a tripling. Since 2022 it has continued to increase. Adjusted for inflation this corresponds to a 60% increase, more than any other major economic sector.
To read about the graph above in greater detail click here. To read more about the increase in college tuition click here, here, here, or here. To calculate the inflation for different periods of time click here (the inflation calculator).
It should be noted in the graphs above that Televisions have decreased in price by 98%, which seems implausible. However, it is not an April 1st joke. It is not April 1st in Texas yet (where I live). The reason for the large decline in price of Televisions is that quality is taken into account. 20 years ago, you could not easily buy the kind of TVs you can today and if you did you would cost you an enormous amount of money. You get a lot more for a few hundred bucks than you did 20 years ago.
This is a superfact because it is true, shocking, and important to how we live.
Why have college Tuition become so expensive?
College tuition has increased so much due to administrative bloat, increased student loan availability, declining state funding for public institutions, and heavy spending on amenities to attract students.
An example of heavy spending on amenities is college sports. I studied at a university called Uppsala University, which is a very large University founded in 1477. It is considered one of the world’s top Universities (top 50). However, they do not have any competitive teams associated with the University itself. In 1987 I was sent as an exchange student (electrical engineering) to Case Western Reserve University, in Cleveland, Ohio. Case Western Reserve University has some competitive teams associated with the University but only a small college football stadium. However, I quickly came to realize that many American universities have huge college football and baseball stadiums. This is an added expense that you rarely encounter in the rest of the world. Universities are for studies and for learning. Sports teams, whether it is soccer, or American football is a separate issue.
Super Facts 