6. College tuition has risen significantly in the last few decades. From the 19791980 academic year to

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6. College tuition has risen significantly in the last few decades. From the 1979–1980 academic year to the 2009–

2010 academic year, total tuition, room, and board paid by full-time undergraduate students went from $2,327 to

$15,041 at public institutions and from $5,013 to $35,061 at private institutions. This is an average annual tuition increase of 6.4% at public institutions and 6.7% at private institutions. Over the same time, average personal income after taxes rose from $7,956 to $35,088 per year, which is an average annual rate of growth of personal income of 5.0%. Have these tuition increases made it more difficult for the average student to afford college tuition?

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Macroeconomics In Modules

ISBN: 978-1464139055

3rd Edition

Authors: Paul Krugman ,Robin Wells

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