Education costs have increased by more than $10 billion over the past decade, according to the Department of Education.
But the biggest contributor to the increase is the rising cost of textbooks.
More than two-thirds of the increases are due to inflation, and this year’s increases will only get worse, according the report.
The report estimates that the cost of teaching a full-time student has increased by $6,828 from the year 2000 to 2019.
Teachers will spend about $2,837 more per year for their textbooks, but that’s more than double the inflation rate.
In the last decade, the price of textbooks has increased more than 50 percent, while the cost per credit has risen by about 30 percent.
And the cost has continued to grow as students graduate.
The cost of a one-credit certificate for a new high school graduate in 2018 was $631, a 30 percent increase from last year.
But the cost for a two-credit certification has increased 70 percent.
That’s because students are paying for the additional courses that are required to graduate.
When the cost increases are factored in, it becomes clear that the government should be doing more to lower education costs, according Jason Kudlowski, an associate professor of education finance at the University of North Carolina at Chapel Hill.
“In my view, this is one of the worst problems we’ve had with education in the past 20 years, and it’s one of our worst problems with student debt in the country,” he said.
“We’ve got to take action now.”
This year’s report is just one indicator of the growing cost of higher education.
An estimated 3.7 million Americans are paying more than 30 percent of their income on education, the most in decades.
The average debt for a family of four is $24,000.
Students who are working or who are looking for a job tend to be the biggest users of higher ed, according data from the federal government.
For the 2016-2017 school year, about 4.6 million students were enrolled in a college or university, according at the U.S. Department of Agriculture.
Of those, 3.4 million were students who had at least one year of work experience, and 1.4 percent were working full time.
Nearly a third of students who graduated in 2018 were working or seeking a job.
If current trends continue, by 2029, nearly half of all U.N. students will be enrolled in college or a university, the report says.
A full-day education is the equivalent of four years of college for a full family.