Household spending on tertiary education in the US experienced overall fluctuations from 2013 to 2023, with actual data showing varied year-on-year changes. The spending slightly decreased between 2013 and 2018, hitting a low in 2018. However, from 2019 onwards, a modest upward trend has been observed, with household spending standing at 45.64 units in 2023. The past five-year compound annual growth rate (CAGR) is a slight 0.43%.
Future trends indicate a continued modest increase in household spending on tertiary education. Forecaster data suggests a gradual rise, with a forecasted CAGR of 0.18% over the next five years. Factors to watch include changes in educational policies, tuition fee adjustments, and inflation rates which could impact future spending patterns.
