Fast Facts: Tuition costs of colleges and universities (76)

Tuition costs of colleges and universities

Question:
What are the trends in the cost of college education?

Response:

The total cost of attending a postsecondary institution includes the sum of published tuition and required fees;^1,² books and supplies; and the average cost for room, board, and other expenses for each institution. In academic year 2022–23, the average total cost of attendance³ for first-time, full-time degree/certificate-seeking undergraduate students differed by control of institution (public, private nonprofit, or private for-profit) and level of institution (4-year or 2-year). In addition, the average total cost of attendance varied by student living arrangement. A student could live on campus; off campus with family; or off campus but not with family. For example, in 2022–23, the average total cost of attendance for first-time, full-time undergraduate students living on campus at 4-year degree-granting institutions was higher at private nonprofit institutions ($58,600) than at private for-profit institutions ($33,600) and public institutions ($27,100).⁴

At all types of degree-granting institutions, average tuition and fees⁵ for first-time, full-time degree/certificate-seeking students increased by less than the rate of inflation from 2021–22 to 2022–23. Therefore, in constant dollars,⁶ average tuition and fees were lower in 2022–23 than they were the year before. However, longer-term trends from 2012–13 to 2022–23 varied by level and control of institution.

At 4-year institutions, average tuition and fees in 2022–23 were

$9,800 for public institutions, which was 5 percent lower than $10,400 in 2012–13;
$18,200 for private for-profit institutions, which was 14 percent lower than $21,100 in 2012–13; and
$40,700 for private nonprofit institutions, which was 8 percent higher than $37,600 in 2012–13.

Despite recent annual declines, private nonprofit institutions experienced an increase in average tuition and fees between 2012–13 and 2022–23. In contrast, at public and private for-profit 4-year institutions, average tuition and fees during this period were at their lowest point in 2022–23.

At 2-year degree-granting institutions, average tuition and fees in 2022–23 were

$4,000 for public institutions, which was 1 percent higher than in 2012–13 (also rounded to $4,000);
$16,300 for private for-profit institutions, which was 13 percent lower than $18,800 in 2012–13; and
$19,500 for private nonprofit institutions, which was 5 percent higher than $18,600 in 2012–13.

Average tuition and fees at private for-profit 2-year institutions were highest in 2012–13, followed by a decline over the period. In contrast, average tuition and fees at public and private nonprofit 2-year institutions over this period were both lowest in 2012–13 and then peaked in 2020–21 ($4,500) and 2018–19 ($21,800), respectively.

¹ For general technical notes related to data analysis, data interpretation, rounding, and other considerations, please refer to the Reader�s Guide.
² For public institutions, this is the lower of in-district or in-state published tuition and required fees.
³ The total cost of attending a postsecondary institution includes tuition and required fees; books and supplies; and the average cost for room, board, and other expenses. Tuition and fees at public institutions are the lower of either in-district or in-state tuition and fees.
⁴ Data in this Fast Fact represent the 50 states and the District of Columbia.
⁵ Average tuition and fees presented in this Fast Fact are based on a different population than the one used in Loans for Undergraduate Students. Tuition and fees in this Fast Fact are based on reporting for first-time, full-time degree/certificate-seeking students, rather than all full-time students.
⁶ All dollar amounts in this Fast Fact are expressed in constant 2022–23 dollars. Constant dollars are based on the Consumer Price Index, prepared by the Bureau of Labor Statistics, U.S. Department of Labor, adjusted to an academic-year basis.

SOURCE: National Center for Education Statistics. (2024). Price of Attending an Undergraduate Institution. Condition of Education. U.S. Department of Education, Institute of Education Sciences. Retrieved May 30, 2024, from https://nces.ed.gov/programs/coe/indicator/cua.

Numbers in figure titles reflect original numeration from source Condition of Education indicators.

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