According to the U.S. Bureau of Labor Statistics, prices for college tuition and fees are 521.59% higher in 2024 versus 1988 (a $104,318.40 difference in value).
Between 1988 and 2024: College tuition experienced an average inflation rate of 5.21% per year. This rate of change indicates significant inflation. In other words, college tuition costing $20,000 in the year 1988 would cost $124,318.40 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.74% during this same period, inflation for college tuition was higher.
In the year 1988: Pricing changed by 7.62%, which is above the average yearly change for college tuition during the 1988-2024 time period. Compared to inflation for all items in 1988 (4.08%), inflation for college tuition was much higher.
Below are calculations of equivalent buying power for College tuition, over time, for $20,000 beginning in 1988. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 1988 | $20,000.00 | 7.62% |
| 1989 | $21,586.67 | 7.93% |
| 1990 | $23,329.23 | 8.07% |
| 1991 | $25,704.62 | 10.18% |
| 1992 | $28,468.72 | 10.75% |
| 1993 | $31,132.31 | 9.36% |
| 1994 | $33,305.64 | 6.98% |
| 1995 | $35,308.72 | 6.01% |
| 1996 | $37,306.67 | 5.66% |
| 1997 | $39,213.33 | 5.11% |
| 1998 | $40,869.74 | 4.22% |
| 1999 | $42,492.31 | 3.97% |
| 2000 | $44,249.23 | 4.13% |
| 2001 | $46,510.77 | 5.11% |
| 2002 | $49,684.10 | 6.82% |
| 2003 | $53,847.18 | 8.38% |
| 2004 | $58,948.72 | 9.47% |
| 2005 | $63,349.74 | 7.47% |
| 2006 | $67,595.90 | 6.70% |
| 2007 | $71,824.96 | 6.26% |
| 2008 | $76,304.39 | 6.24% |
| 2009 | $80,889.84 | 6.01% |
| 2010 | $85,091.72 | 5.19% |
| 2011 | $89,366.75 | 5.02% |
| 2012 | $93,701.03 | 4.85% |
| 2013 | $97,658.63 | 4.22% |
| 2014 | $101,265.98 | 3.69% |
| 2015 | $104,779.97 | 3.47% |
| 2016 | $107,600.05 | 2.69% |
| 2017 | $109,750.56 | 2.00% |
| 2018 | $112,177.58 | 2.21% |
| 2019 | $115,380.53 | 2.86% |
| 2020 | $116,968.35 | 1.38% |
| 2021 | $117,984.66 | 0.87% |
| 2022 | $120,534.04 | 2.16% |
| 2023 | $122,855.04 | 1.93% |
| 2024 | $124,318.40 | 1.19%* |
* 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 |
| CPI | 57.900 | 59.908 | 64.669 | 70.831 | 79.623 | 90.323 | 99.723 | 109.938 | 119.923 | 129.631 | 139.385 | 150.000 | 161.900 | 174.969 | 192.785 | 213.515 | 233.492 | 249.792 | 264.815 | 279.800 | 294.100 | 306.523 | 318.692 | 331.869 | 348.831 | 372.631 | 403.854 | 442.115 | 475.123 | 506.969 | 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 | 932.388 |