Word: tuition
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Dates: during 1990-1999
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This is Harvard's estimate of what the price of attending the College will be in the '97-'98 school year, including tuition, fees and "personal money." It is also about three-fourths of the average family income in America, and about the price of one of the 275,757 Mercedes Benz sedans Harvard could buy with its endowment...
...Tuition will increase: That's inflation. But comparing tuition increases to the inflation rate over the past 20 years shows that a devalued dollar cannot account for all of this increase...
From 1973 to 1983, tuition and inflation rose hand in hand. Harvard's tuition increases and the inflation rate were almost identical during five of these 10 years...
During the hyperinflation of the late '70s and early '80s, when rates were nearly as high as 14 percent, Harvard at points increased its tuition at half that rate...
Then in the 1980s, the two lines diverged and have only come close to increasing at the same rate again this year, when tuition increased by nearly 4 percent with inflation hovering around 3 percent...