Paying for higher education is an expensive process, especially since tuition costs continue to increase faster than inflation. In fact, tuition costs at many colleges have increased at double or greater the rate of inflation for many years. Considering inflation is only 2-3%, “double” that amount doesn't sound like much, but consider this: If you divide 72 by the rate of inflation or cost increases, the result is the number of years it takes the underlying price to double. If inflation is 3%, it will take about 24 years for the cost of living to double. If tuition increases by 6% per year, it will only take 12 years for the cost of a college education to double.
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