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College: Afford or Ill-Afford?

Consider this table of college costs (tuition, fees, room, and board)over the past few years:

YearPrivatePublicc
1976 $3,977$1,936
1986 $9,852$4,050
1996 $18,357$7,142
2004 $26,854$10,636
2006 $31,916$15,566

Assuming the actual growth rate is linear, what are the two expected values for years 2010 and 2025?

  • Average cost for a private college?
  • Average cost for a public college?

Assuming the actual growth rate is exponential, what are the two expected values for years 2010 and 2025?

  • Average cost for a private college?
  • Average cost for a public college?
Do a best curves-fit for the data. What are the two expected values for years 2010 and 2025?
  • Average cost for a private college?
  • Average cost for a public college?

Now, start saving your money if you have chidlren who plan to attend college!