Inflation Rate Passes Growth Of College Tuition Cost For First Time in Decades
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The cost of college tuition has historically risen at a rate nearly four times that of inflation. But that changed this year, when the average uptick in the price of higher-education necessities such as laptops, notepads, books, binders, and — yes — beer, rose at a much greater rate than that for classes.
For the 2021–22 school year, the average cost of tuition and fees totaled $38,185 for private schools and $22,698 for public, out-of-state schools, according to the US News' annual higher education survey. That marks a roughly 1% year-over-year increase for private schools, and between 1% and 2% increase for public. Meanwhile, the overall inflation rate in the U.S. hit nearly 3.2% over the past year, according to the Bureau of Labor Statistics.
Source Fool.com
