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Comparison from 1934
In the 1930s a student would spend roughly $1,700 for tuition at Dartmouth. Today that would be equivalent to $30,500. After a survey was admitted from the U.S. Office of Education, it was revealed that the cost of one academic year back then was averaging $630, or $11,300 in today's dollars.
(Rothman, 2016) -
G.I. Bill of Rights
President Franklin Roosevelt signed the G.I. Bill of Rights in 1944. This means that veterans could receive a free year of college if they qualified. This meant up to $500 a year or $6,800 in today's dollars.
(Rothman, 2016) -
Enrollment Surging
Enrollment for higher education was increasing drastically in 1960. The need for more money caused the tuition costs to rise. That year it was $2,015 for one year at Bates. Today one year at Bates is $64,500.
(Rothman, 2016) -
Higher Education Act of 1965
Meant to help students have more resources for colleges and universities. This act made it easier for women and minorities to have access to a college education as well.
(NPR Choice page, 2014) -
Double Digit Inflation
Within the years of 1965-1972, inflation began to rise at a very rapid rate. The economy was also stumbling and even an oil embargo as well. Tuition rates then began to grow just as equally as the inflation. Private and subsidized loans began to replace grants for lower and middle class college students.
(NPR Choice page, 2014) -
EOG Split
In 1972, the Educational Opportunity Grant (EOG) was split into two sections. The first was the Federal Supplemental Educational Opportunity Grant (FSEOG), which delivers funds straight to the college. The second was Basic Educational Opportunity Grant (BEOG), which delivers funds to the students. The BEOG was later named the Pell Grant in 1980.
(Aschenbrener, 2016) -
Middle Income Student Assistance Act
This allowed for undergraduates to receive subsidized loans even if they did not necessarily need it. Middle income students would now be eligible for Pell Grants.
(Aschenbrener, 2016) -
PLUS Loans
PLUS loans were established in 1990. They are open to all college students, regardless of need. Parents can borrow up to the full cost of attendance.
(Aschenbrener, 2016) -
College Cost Reduction Act of 2007
President Bush signed this act back in 2007. It's goal is to help the lower and moderate families with receiving a college education by offering more grants.
(Aschenbrener, 2016) -
College Affordability Act
The goal is for students to spend less and learn more. It lowers the cost of college, improves the quality of higher education, and expands opportunity for students from all backgrounds.
(The College Affordability Act | House Committee on Education and Labor, 2019)