By the 1981-1982 academic year, tuition costs rose again and have continued to rise every year since. Between 2000 and 2021, average tuition and fees jumped by 65%, from $8,661 to $14,307 per year. In just the 11 years between 2010 and 2021, tuition and fees rose by 17%, from $12,214 to $14,307.
Higher education costs have increased more than 170% over the last 40 years. Lack of regulation of tuition costs, along with increased expenses, raises total costs for students. Administrative overhead and demand for more student services also increase costs.
In the 1940s, '50s, and '60s, the federal government passed several pieces of legislation that sent more money to states to fund higher education and kept college costs down. More people opted to go to college because it was more affordable.
In 1980, the price to attend a four-year college full-time was $10,231 annually—including tuition, fees, room and board, and adjusted for inflation—according to the National Center for Education Statistics. By 2019-20, the total price increased to $28,775. That's a 180% increase.
The average cost to attend a private college in 1970 was about $3,000 a year. Today, it costs more than $50,000.
In all the sound and fury of the budget discussion of recent days, this administration has been portrayed as an opponent of educational ideas engaged in total warfare against the academic community sole defender of cultural and intellectual progress.
College Costs in the 1970s
The total cost of attendance (fees, tuition, room, and board) saw an increase of 88.0% at public 4-year schools, from $1,238 to $2,327. During that same period, tuition at private 4-year institutions grew from $1,562 to $3,225, an annual growth rate of 10.6%.
Before adjusting for inflation, average 2023-24 published tuition and fees for full-time college students increased: 2.5% at public four-year colleges (in-state students): $11,260, $270 higher than in 2022-23. 3.0% at public four-year colleges (out-of-state students): $29,150, $850 higher than in 2022-23.
In 1960, Harvard's tuition was $1,520.
The tuition was a 15% increase from the previous year.
During much of the 1960s (in the early years of the Master Plan for Higher Education in California, 1960-1975), the three public higher education systems in California – the University of California System (UC), the California State College System (CSUC), and the state's community colleges – did not charge tuition for ...
Until the late 1990s, state funding for public higher education covered the majority of this cost. However, state funding for the University of California and California State University was cut by a third during a series of severe recessions; as a result, tuition tripled between 1995–96 and 2011–12.
Sather Gate at UC Berkeley, which until the 1960s charged no tuition to undergraduate students who were residents of California.
By 1960, with enrollment surging, even more money was needed, and a major tuition hike was forecast. That year, college costs surveyed by TIME included $2,015 for tuition, room and board, and fees for a year at Bates, and $1,450 for Lewis and Clark. (That's $16,400 and $11,800 today.)
First, “free college” would completely sever the financial connection between the seller (colleges) and the customer (students). With the full expense of college falling on third parties (the taxpayers), students would no longer have any incentive to economize. Neither would colleges.
The benefits of free college include greater educational access for underserved students, a healthier economy, and reduced loan debt. Drawbacks include higher taxes, possible overcrowding, and the threat of quality reduction.
While it is tempting to blame inflation alone for expensive college education, it is important to remember that the ballooning costs of tuition and fees far outpace inflation alone. Overhead expenses, an ever-increasing demand, and competitive campus amenities drive costs up, as well.
Projected 4-Year-Degree Price
The Harvard costs for a four-year degree, including books, tuition, and all other expenses, would be approximately $334,152 based on the 2022-23 school year.
Elite, indeed. In 1960, Harvard College received around 5,000 applications and accepted roughly 30%. For this year's freshman class, 57,435 applications poured in and the school accepted only 3.43%. The narrower the funnel, the finer that kids grind themselves down to squeeze through it.
Yale Tuition and Fees Rise To $3,900 Starting in 1970 - The New York Times.
During the 2021/2022 school year, the average parent covered about 43% of their student's college costs using income and savings. Parents covered an additional 8% of that cost by taking out loans, according to the Sallie Mae study. The average total parent contribution came out to $13,000 per year.
In the 2023 Sallie Mae and Ipsos survey: 72% of families surveyed reported using parental income and savings to pay for college. 58% said they used a parent's current income to pay for college. 30% relied on funds saved in a college savings account, like a 529 plan, to pay for school.
The decline is more dramatic when comparing the change in average net prices, or the amount students pay after subtracting financial aid. Where ten years ago the net price of in-state tuition for a first-year student peaked at an inflation-adjusted $4,230, that figure is just $2,730 in 2023.
The 1992 HEA reauthorization created the Free Application for Federal Student Aid (FAFSA), which replaced the Common Financial Aid Form of 1986. The FAFSA became the only federal form for students to apply for federal financial aid.