In the fall of my college freshman year, 1977, I read an article in the newspaper that projected what college tuitions would become over the decades ahead. I remember laughing in disbelief that anyone would be able to pay the amounts of money listed.
Now I wish I had that clipping so I could see if its estimate was ludicrously high or, possibly, ludicrously low. Or even laughably accurate.
This is what set me to remembering:

(Source)
I spent five years in college. My parents, with four daughters born within half a decade, said they would pay for the first two years of our time in college (thank you, Mom and Dad!).
At one of New York's state universities, I managed to pay for years three and four with a $500 scholarship, a summer job, and by becoming a resident assistant in year four, plus a $500 federally guaranteed student loan. The interest was well below the then-sky-high market rates, and it didn't begin accruing until after graduation.
My summer jobs were a bit cushy. I don't remember what the rate of pay was, but it was well above the then-minimum, which ranged between $2.30 and $3.35 during that period ($8.59 to $7.85 in 2012 dollars). I think it may have been somewhere around $5.00 an hour ($17.36). I worked about six weeks, full-time, in the summer of 1977 ($1,200, or $4,483), then 12 weeks in 1978-1980 ($2,400 each, which in 2012 dollars would be $8,332 in 1978, $7,473 in 1979, and $6,584 in 1980 -- yes, those were inflationary times. I'm sure there was a raise at some point, but I'm using $5.00 as an average).
Being an RA paid for my room and half my board. Year five was a bit more of a payment challenge -- the cushy job and the scholarship ended because I took a fifth year to finish school. I had to come up with tuition plus half my board, books, and living expenses. I took out a $2,500 student loan.
I finished in 1982 with $3,000 in debt, equivalent to $7,026 in 2012 dollars, entering the job market in the worst recession since the 1930s. It was, however, a brief one compared to recent years. As a double major in English literature/creative writing and history with no particular job prospects in mind, it didn't so much set me back as set me on the path that I ended up wandering down to this day.
In-state tuition for fall 2013 at a SUNY college will be $5,870, among the lowest in the country. Its equivalent in 1982 dollars is $2,360, though, so I'd say it's now relatively higher than it was in my time, since I could pay for tuition plus all my other expenses with $2,500. I'm also willing to bet that room and board have increased above the inflation rate since then as well. The university just recently tore down my old dorm to build a new one that meets the "expectations of today's students."
SUNY remains a bargain, though. The University of Minnesota's in-state tuition is $12,060; schools in the Minnesota state college system (the ones you've never heard of unless you live in Minnesota) are $6,667.
___
All inflation calculations made with my favorite inflation calculator, WestEgg.