Tuition up 40% in past decade - The average cost of tuition and fees at the nation's four-year colleges and universities is more than 40 percent higher now than it was 10 years ago, according to a new study. (Detroit News)
By my calculations, that is an average annual increase of 3.8%. Not so bad when you look at it that way.
The ten-year increase should be compared to the ten-year figures for inflation generally. That figure is 2.7% for the period of 1992 to 2002, according to the Inflation Calculator website. Thus, the cost of college has exceeded the general inflation rate by only 1.3%. Of course, if you were a headline writer, you would write "Tuition costs expanding at 150% of inflation rate".
By the way, the Inflation Calculator is an excellent way to depress yourself. Enter your salary as of 2002, and then enter the year you started practicing law. That will tell you what the equivalent of your current salary would have been at that time. Think about how far you've come. Then go buy yourself a drink.
7:52:45 AM 
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