When students arrive at the University of Southern California in the fall, some of them will have paid more than $95,000 for their stay. That’s the full list price for the 2024-25 academic year – an amount that’s increased by $17,000 from five years ago and could soon reach six figures.

USC is one of many universities with rapidly rising costs. The Chronicle analyzed data from the U.S. Department of Education and university websites and found that the average cost of tuition at California’s elite private universities (not including student aid) has increased 20% since 2019.

Even at the University of California and California State University, where tuition is subsidized by the state, tuition increases are expected in the coming years. The cost of room and board is also rising rapidly due to inflation.

For this article, the Chronicle examined pricing data for California’s top private universities and liberal arts colleges, as ranked by U.S. News & World Report.

At most elite colleges, both tuition and living costs have increased over the past five years. Tuition rose an average of 20% from 2019 to 2024, while the average cost of room and board rose 27% over the same period. Inflation data shows that prices in the U.S. have increased 23% over that period.

At USC, California’s most expensive university, tuition this year is nearly $72,000 — a 23 percent increase from $58,000 five years ago. Room and board costs are nearly $20,000, up 25 percent from 2019.

During the same period, Stanford University increased its tuition fees by 26%, while room and board costs rose by 30%.

Stanford’s annual increase in tuition, room and board over the past two years is the largest annual increase in recent history. For more than a decade, the annual change in tuition costs has mostly been between 3% and 4%, but in 2023 and 2024 there were increases of 7% and 8%, respectively.

According to the university, the recent tuition increase “will help maintain the strength of Stanford’s comprehensive, need-based financial aid program while mitigating inflation-related increases in operating costs.”

For the 2024–25 academic year, the estimated cost of tuition at Stanford is nearly $93,000 for on-campus students, including about $68,000 for tuition, $21,000 for room and board, and $4,000 for books, materials, and personal expenses.

For California residents, tuition at UC and CSU is much lower than at nonprofit private schools. But over the past two years, even a UC or CSU education has become more expensive.

In 2021, the UC Board of Regents passed a plan to increase tuition for in-state students—something the university had not done in over a decade. The tuition increases included annual, systemwide, inflation-linked increases for incoming undergraduate students and all master’s students starting in 2022.

The Cal State system took a similar step in 2023. University councils voted to increase tuition by 6% annually for five years, beginning in fall 2024. That would push tuition for full-time in-state students, which was about $5,700 in the 2023-24 school year, to nearly $7,700 in 2028-29.

However, these tuition fee increases are new developments, while the costs of accommodation and meals have been rising for years.

For example, room and board at Cal Poly San Luis Obispo costs about $18,000 this year, up 63 percent from a decade ago. Tuition for in-state students, which includes systemwide and campus-specific fees, is about $13,000 this year — up 50 percent over the same period. Overall inflation rose only 32 percent this decade.

Room and board costs at UC Berkeley have increased an average of 3% annually over the past decade, representing a 39% increase between 2013 and 2024. Tuition for Berkeley State residents has increased 29% over the same period.

Room and board costs at a UC or CSU can range from $11,000 to $22,000 depending on location and are often higher than in-state tuition.

“What makes college costs seem like they’re going up is the cost of living,” says Kevin Cook, deputy director of the Public Policy Institute of California. “That’s probably the biggest pressure on students’ budgets.”

In addition to subsidizing UC and CSU tuition for in-state students, the California state government also provides Cal Grants, which cover four years of study for California residents attending UCs, CSUs, or California Community Colleges. This program, in addition to institutional financial aid, fully covers tuition for the majority of in-state students—55% of UC students and 60% of CSU students pay no tuition.

However, the Cal Grants do not cover living expenses, so students must rely on state or institutional assistance for those costs, Cook said.

Cal Grants are also available to students at some private colleges, but the amount of the grants is capped. Students can receive up to $9,358 per year to pay for tuition and fees. However, since tuition at some California private schools can be as high as $71,000, state grants only partially reduce the overall cost.

At public universities, Cal Grant scholarships rise with tuition: Even as tuition rises at UC and CSU, state law ensures that tuition is fully covered for existing Cal Grant recipients. But that’s not the case at private colleges, whose Cal Grant funding has stagnated.

Still, at Stanford University, a large portion of tuition costs for low-income students are covered by federal and institutional grants. According to the university, families earning less than $75,000 a year paid an average of about $4,000 in total costs last year.

Even some students from wealthier families received scholarships and grants. Of students whose families earned more than $400,000 a year, 14 percent were eligible for a scholarship—most of whom had two or more children in college. The average amount of aid awarded to these families was about $12,000.

At USC, the vast majority of students do not pay the full $95,000 for their tuition. Last year, about 42% of students were determined to need financial aid and were awarded an average aid of about $63,000.

Another 23% of students had no financial need but received need-based scholarships or grants from USC averaging $18,000.

Reach Nami Sumida: [email protected]