U.S. consumers expect that college costs will increase almost as much as health care costs over the coming year, both rising at roughly three times the median rate for overall inflation.
According to the latest New York Fed Survey of Consumer Expectations, the median cost of college is expected to rise 7.2% while health care costs jump 7.8% and overall inflation increases just 2.6%.
Even this moderate growth in overall inflation expectations, which is the lowest reading since late 2017, isn't as positive as it seems.
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Bernice Napach
Bernice Napach is a senior writer at ThinkAdvisor covering financial markets and asset managers, robo-advisors, college planning and retirement issues. She has worked at Yahoo Finance, Bloomberg TV, CNBC, Reuters, Investor's Business Daily and The Bond Buyer and has written articles for The New York Times, TheStreet.com, The Star-Ledger, The Record, Variety and Worth magazine. Bernice has a Bachelor of Science in Social Welfare from SUNY at Stony Brook.
