When most people hear “1984”, they think of a dystopia. However, there is at least one reason for parents, high school students and their big brothers to pine after 1984: the real cost of college tuition. In the last 30 years, college tuition has increased by 152.7% for private 4-year institutions, and 232.4% for public 4-year institutions AFTER adjusting for inflation.
Average cost of tuition in 1984:
- Public: $2,300
- Private: $6,217
Average cost of tuition today:
- Public: $18,172
- Private: $37,343
To put those numbers in perspective, here’s a list of common household items and what they would cost if their prices had escalated at the same rate.
KEY:
- White: Price of good in 1984
- Blue: Price if good inflated at the rate of private tuition
- Red: Price if good inflated at the rate of public tuition
Gallon of Milk
- White: $2.26
- Blue: $13.58
- Red: $17.86
Mac Computer
- White: $2,495
- Red: $19,715
One Movie Ticket
- White: $3.36
- Blue: $20.19
- Red: $26.55
One Dozen Eggs
- White: $1.30
- Blue: $7.81
- Red: $10.27
Average House
- White: $86,730
- Blue: $521,036
- Red: $685,306
Other Household Goods
Bread
- $0.71
- $4.27
- $5.61
Ground Beef
- $1.72
- $10.33
- $13.59
Chicken Breasts
- $1.72
- $10.33
- $13.59
Coffee
- $2.49
- $14.96
- $19.67
Gallon of Gasoline
- $1.27
- $7.63
- $10.04
Bacon
- $1.81
- $10.87
- $14.30
Potato Chips
- $2.49
- $14.96
- $19.67
* Goods in Pounds, unless otherwise specified