New Data Shows Tuition & Student Debt at Public Four-Year Universities Have Declined After Inflation Over Past Decade

New College Board data released on Monday showed tuition and fees at public four-year universities have declined over the past decade in inflation-adjusted terms. The figures show the continuation of the multi-year trend in which costs have declined in real terms at public four-year universities. A majority of students awarded bachelor’s degrees at public universities now graduate with zero student debt, according to the latest data.

Key tuition data points from the report show:

• Published in-state tuition and fees at public four-year universities are $11,610, down $530 from a decade ago in inflation-adjusted terms.¹
  
• Tuition and fees for in-state students after grant aid is $2,480, down 40% from a decade ago in real terms.²

Key debt data points from the report show:

• 51% of students awarded a bachelor’s degrees at public four-year universities completed their degree with zero student debt in 2022-23 (latest year available). The share of bachelor’s recipients graduating with debt is down 10 percentage points from a decade ago.³

• Average debt among those who borrow is $27,100, down $5,600 in inflation-adjusted terms from a decade ago.⁴

To help members tell the story of their extraordinary impact, APLU complies extensive data on college costs, student debt, and the ROI of college, and the contributions of public research universities on its website.

1. College Board Figure CP-9 on page 18. ↩︎
2. College Board Figure CP-9 on page 18. ↩︎
3. College Board Figure SA-14A on page 44. ↩︎
4. College Board Figure SA-14A on page 44. ↩︎