Although wages have increased over time, the cost of a college education has soared. Four-year public college tuition has increased 571% since the late 1980’s. Even taking inflation into consideration, the increase has been 213%. The higher prices for private universities have done a little better with an increase of 129% over the last three decades. Tuition rates tend to increase at about twice the rate of inflation. The average increase is around 8% per year. This means the cost of college doubles about every nine years.
Why does the price of college tuition keep going up?
This podcast episode talks about the reasons why college tuition keeps increasing.
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