How much college cost when you graduated high school

By Personal FinanceFOXBusiness

Colleges aren't selling an education anymore, they're selling a degree: Former investment banker

Former investment banker Carol Roth on the Trump administration's proposed limits on student loan borrowing.

Young Americans are struggling to keep up with mounting piles of student loan debt, a problem that is likely to get worse throughout the coming years.

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Outstanding student loan debt surpassed $1.5 trillion in 2018 – second only to mortgage debt – doubling over the past decade.

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While some older Americans also have student loan debt, the rising costs of higher education has placed an increasing burden on younger generations – and their parents in some cases.

How much has the cost of college changed? GOBankingRates determined the cost of college by high school graduation year, using data from the National Center for Education Statistics and College Board.

Overall, costs – adjusted for inflation – increased more than 386 percent for public four-year institutions, and 285 percent for private four-year institutions between 1964 and 2019. When inflation is not accounted for, those percentages rise to 3,819 percent and 2,988 percent, respectively.

Here’s a look at the findings:

1970-1971

Cost at the time

Public four-year institution: $405

Private four-year institution: $1,792

Inflation-adjusted costs

Public four-year institution: $2,697

Private four-year institution: $11,933

1975-1976

Cost at the time

Public four-year institution: $540

Private four-year institution: $2,290

Inflation-adjusted costs

Public four-year institution: $2,609

Private four-year institution: $11,064

1980-1981

Cost at the time

Public four-year institution: $800

Private four-year institution: $3,620

Inflation-adjusted costs

Public four-year institution: $2,588

Private four-year institution: $11,712

1985-1986

Cost at the time

Public four-year institution: $1,320

Private four-year institution: $6,120

Inflation-adjusted costs

Public four-year institution: $3,149

Private four-year institution: $14,602

1990-1991

Cost at the time

Public four-year institution: $1,910

Private four-year institution: $9,340

Inflation-adjusted costs

Public four-year institution: $3,774

Private four-year institution: $18,454

1995-1996

Cost at the time

Public four-year institution: $2,810

Private four-year institution: $12,220

Inflation-adjusted costs

Public four-year institution: $4,706

Private four-year institution: $20,465

2000-2001

Cost at the time

Public four-year institution: $3,510

Private four-year institution: $16,070

Inflation-adjusted costs

Public four-year institution: $5,234

Private four-year institution: $23,963

2005-2006

Cost at the time

Public four-year institution: $5,490

Private four-year institution: $20,980

Inflation-adjusted costs

Public four-year institution: $7,246

Private four-year institution: $27,962

2010-2011

Cost at the time

Public four-year institution: $7,630

Private four-year institution: $26,770

Inflation-adjusted costs

Public four-year institution: $8,863

Private four-year institution: $31,097

2015-2016

Cost at the time

Public four-year institution: $9,150

Private four-year institution: $31,280

Inflation-adjusted costs

Public four-year institution: $10,157

Private four-year institution: $34,832

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2018-2019

Inflation-adjusted costs

Public four-year institution: $10,339

Private four-year institution: $36,386