A study suggests that the cost of college in the United States has risen 112 percent above inflation over the past four years.
According to a report by the College Fix, the cost of a college degree in United States is rising far faster than it should. A study by a startup called Self has shown that the cost of college in the United States has increased dramatically over the past few years.
The report revealed that the cost of university tuition has increased 8.3 percent in the past five years alone. In that same time, the cost of textbooks has increased a whopping 36.3 percent. This increase amounts to an additional $2,835 each year over what students paid in 2015. This increase amounts to 112 percent above the rate of inflation during this time period.
"One of the biggest financial challenges younger generations will face in their lifetime is accepting and repaying a student loan. In the last 5 years alone, the cost of university tuition has risen 8.3%, which is below the 9.7% increase in room and board prices and far below the 36.3% increase in books and supplies seen in the same time frame. This means that, per year, university students are paying $29,133 on average across all states just to attend. "