“Disproportional inflation” refers to inflation in a particular economic sector that is substantially greater than inflation in general costs of living. Some relate this type of inflation to medical costs; however, inflation of college tuition and fees far exceeds that. Between 1978-2008 inflation of college tuition and fees were 10-fold, while the cost of living inflation was 2.4 fold during this time period. These trends have the potential to limit the availability of our country’s ability to produce educated individuals who can contribute to a society fueled by democracy, fairness and justice.
The cumulative inflation rate from 1990-2011 is 72.85%, which means services that cost $1 in 1990, cost $1.72 in 2011. College tuition 20 years from now, assuming the same inflation rate, would cost $69,144.00 per year. However, if you take into consideration that college tuition inflates at 10x the standard inflation rate, college tuition 20 years from now will cost $328,320.00 per year.
With inflation rates soaring higher than ever, we are going to need some help.
