How much college cost when you graduated high school
Former investment banker Carol Roth on the Trump administration's proposed limits on student loan borrowing.
Young Americans are struggling to keep up with mounting piles of student loan debt, a problem that is likely to get worse throughout the coming years.
Outstanding student loan debt surpassed $1.5 trillion in 2018 – second only to mortgage debt – doubling over the past decade.
While some older Americans also have student loan debt, the rising costs of higher education has placed an increasing burden on younger generations – and their parents in some cases.
How much has the cost of college changed? GOBankingRates determined the cost of college by high school graduation year, using data from the National Center for Education Statistics and College Board.
Overall, costs – adjusted for inflation – increased more than 386 percent for public four-year institutions, and 285 percent for private four-year institutions between 1964 and 2019. When inflation is not accounted for, those percentages rise to 3,819 percent and 2,988 percent, respectively.
Here’s a look at the findings:
1970-1971
Cost at the time
Public four-year institution: $405
Private four-year institution: $1,792
Inflation-adjusted costs
Public four-year institution: $2,697
Private four-year institution: $11,933
1975-1976
Cost at the time
Public four-year institution: $540
Private four-year institution: $2,290
Inflation-adjusted costs
Public four-year institution: $2,609
Private four-year institution: $11,064
1980-1981
Cost at the time
Public four-year institution: $800
Private four-year institution: $3,620
Inflation-adjusted costs
Public four-year institution: $2,588
Private four-year institution: $11,712
1985-1986
Cost at the time
Public four-year institution: $1,320
Private four-year institution: $6,120
Inflation-adjusted costs
Public four-year institution: $3,149
Private four-year institution: $14,602
1990-1991
Cost at the time
Public four-year institution: $1,910
Private four-year institution: $9,340
Inflation-adjusted costs
Public four-year institution: $3,774
Private four-year institution: $18,454
1995-1996
Cost at the time
Public four-year institution: $2,810
Private four-year institution: $12,220
Inflation-adjusted costs
Public four-year institution: $4,706
Private four-year institution: $20,465
2000-2001
Cost at the time
Public four-year institution: $3,510
Private four-year institution: $16,070
Inflation-adjusted costs
Public four-year institution: $5,234
Private four-year institution: $23,963
2005-2006
Cost at the time
Public four-year institution: $5,490
Private four-year institution: $20,980
Inflation-adjusted costs
Public four-year institution: $7,246
Private four-year institution: $27,962
2010-2011
Cost at the time
Public four-year institution: $7,630
Private four-year institution: $26,770
Inflation-adjusted costs
Public four-year institution: $8,863
Private four-year institution: $31,097
2015-2016
Cost at the time
Public four-year institution: $9,150
Private four-year institution: $31,280
Inflation-adjusted costs
Public four-year institution: $10,157
Private four-year institution: $34,832
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2018-2019
Inflation-adjusted costs
Public four-year institution: $10,339
Private four-year institution: $36,386