Table 330.10. Average undergraduate tuition, fees, room, and board rates charged for full-time students in degree-granting postsecondary institutions, by level and control of institution: Selected years, 1963-64 through 2020-21. NCES. January 2022.

University of Notre Dame

Based on the data, there has only been a 24.24% increase in the monthly cap since 2002. Notably, working student income and necessary expenses have gone up since then. Tuition and required fee has gone up immensely since then as well, going from roughly $8,000 to $13,600 according to the NCES. With a considerably low exclusion change, students thus have to report more income, leading to a greater loss of benefits with bigger impact nowadays considering inflation. In other words, the cap change is not reflective of current economic changes.

Changes in Student Earned Income Exclusion Since 2002

Average undergraduate tuition, fees, room, and board rates charged for full-time students in degree-granting postsecondary institutions, by level and control of institution: Selected years, 1963-64 through 2020-21

Learn Before

Related