College costs in the 1950s and ’60s will make your wallet cry
How much did college cost in the 1950s and ’60s?
In 1959, Newsweek reported that room and board at many colleges ran between $605 and $1,100 a year, with most falling in the $700–$800 range. Even with tuition added in, many students paid less than $2,000 per year. U.S. News & World Report followed up in 1967 with a broader view: Colleges were spending around $2,222 per student each year at public institutions, and $3,414 at private ones. Those figures included educational expenses, not necessarily the full amount students paid — but they’re still useful for showing how much lower costs were overall.
To get a more complete picture, we turned to data from the National Center for Education Statistics. In the 1968–69 school year, the full cost of attendance (including tuition, fees, room and board) at a 4-year public college was about $1,245. At a private nonprofit school, the full cost was $2,520. When adjusted for inflation, that’s about $11,400 and $23,100, respectively, in 2020–21 dollars.
By comparison, the full cost of attendance in 2020–21 had climbed to $22,180 for public 4-year colleges and $50,770 for private nonprofit ones. So even when adjusted for inflation, the total cost of college roughly doubled at public schools and more than doubled at private ones.
College costs were structured differently back then, too. More of the price was covered through public funding, and financial aid leaned more toward grants than loans. Most students didn’t leave school in debt, and for many families, it was possible to pay as you went — especially if a student worked part-time or lived at home. The costs were real, but the financial pressure was lighter.
Wondering exactly how much it cost to go to college back when your parents or grandparents were applying? Below, we’ve pulled together some data reported from the 1950s and 1960s, showing how quickly things can change in just a couple of generations.
SEE MORE: Inflation calculator: See how much the dollar was worth years ago
College tuition in 1959: Not-so-crowded colleges
From Newsweek – May 11, 1959
Room and board at these colleges run from $605 to $1100, with most in the $700-$800 range
The rising cost of educating a college student
From US News and World Report (September 18, 1967)
Average expenditures of colleges per student for a full year
In public colleges
1956-57: $1,834
1966-67: $2,222
1976-77 (projected): $2,575
In private colleges
1956-57: $1,892
1966-67: $3,414
1976-77 (projected): $4,870
Source: US Office of Education
Soaring outlays in US for higher education
Total yearly expenditures by all colleges
Higher education has become one of the country’s biggest and fastest-growing industries, with total expenditures of nearly 17 billion dollars a year. In just 10 years, the college and university outlays have more then trebled.
Public colleges
10 years ago: $2.9 billion
Now (est.): $9.7 billion
Increase: $6.8 billion
Private colleges
10 years ago: $2.0 billion
Now (est.): $6.9 billion
Increase: $2.9 billion
Total
10 years ago: $4.9 billion
Now (est.): $16.6 billion
Increase: $11.7 billion
Source: US Office of Education