According to FinAid.org, tuition typically rises at a rate of 8% each year, or roughly twice the rate of inflation. Thus, the pace of college tuition hikes compared to the 2019 rate of inflation was 8%.
No matter the decade, college tuition is not known for being inexpensive, but it has become noticeably more expensive recently. However, there are some encouraging signals that the economy may be able to keep up with inflation. The term "inflation" refers to the collection of economic factors that raise the price of all of our products and services. At an annual rate of 8.6%, the United States is currently experiencing much higher inflation than it has since 1981. Increasing labor costs, record-high energy prices, and rising interest rates are currently the three main causes of inflation.
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