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The document states costs rose 1.9 percent in FY2020, below FY2019 and the five-year average, with most year-over-year movement remaining moderate across eight tracked components. It details changes in faculty salary and fringe benefit calculation methodology, summarizes component-specific inflation patterns, and compares HEPI with the Consumer Price Index.",{"@graph":69,"@context":122},[70,84,105],{"@type":71,"itemListElement":72},"BreadcrumbList",[73,77,79,82],{"item":74,"name":75,"@type":76,"position":8},"https://docshare.wps.com","Home","ListItem",{"item":78,"name":9,"@type":76,"position":14},"https://docshare.wps.com/document/",{"item":80,"name":40,"@type":76,"position":81},"https://docshare.wps.com/document/research-report/",3,{"item":83,"name":65,"@type":76,"position":19},"https://docshare.wps.com/document/commonfund-higher-education-price-index-2020-update/583616/",{"url":83,"name":65,"@type":85,"image":86,"author":91,"headline":65,"publisher":94,"fileFormat":97,"inLanguage":63,"description":67,"dateModified":98,"datePublished":99,"encodingFormat":97,"isAccessibleForFree":100,"interactionStatistic":101},"DigitalDocument",{"url":87,"@type":88,"width":89,"height":90},"https://docshare.wps.com/thumbnails/commonfund-higher-education-price-index-2020-update/583616.png","ImageObject",300,407,{"name":92,"@type":93},"Jacob","Person",{"url":74,"name":95,"@type":96},"DocShare","Organization","application/pdf","2026-10-29","2026-10-15",true,{"@type":102,"interactionType":103,"userInteractionCount":39},"InteractionCounter",{"@type":104},"ViewAction",{"@type":106,"mainEntity":107},"FAQPage",[108,114,118],{"name":109,"@type":110,"acceptedAnswer":111},"What was the overall HEPI cost change in fiscal year 2020?","Question",{"text":112,"@type":113},"Costs for colleges and universities rose 1.9 percent in FY2020, down from a 3.0 percent increase in FY2019 and below the five-year average annual increase of 2.4 percent.","Answer",{"name":115,"@type":110,"acceptedAnswer":116},"How did faculty salaries and fringe benefits change in FY2020?",{"text":117,"@type":113},"Faculty salaries, the most heavily weighted component, rose 2.7 percent versus 2.6 percent in FY2019. Fringe benefits rose 2.9 percent, below the prior fiscal year’s 3.5 percent increase.",{"name":119,"@type":110,"acceptedAnswer":120},"How does HEPI compare with CPI inflation for FY2020?",{"text":121,"@type":113},"HEPI reported 1.9 percent inflation in FY2020, compared with a 1.6 percent Consumer Price Index (CPI) inflation rate, meaning the difference was only moderately higher by historical standards.","https://schema.org",{"og:url":83,"og:type":124,"og:title":65,"og:site_name":95,"og:description":67},"article",{"robots":126,"canonical":83},"index,follow",{"doc_id":128,"site_id":62},583616,1792057074,{"code":4,"msg":5,"data":131},{"doc_id":128,"user_id":132,"nickname":92,"user_avatar":133,"doc_module":4,"category_id":39,"category_name":40,"doc_title":65,"doc_description":67,"doc_content":134,"file_id":135,"file_url":136,"file_type":137,"file_size":138,"view_count":39,"is_deleted":4,"is_public":8,"is_downloadable":8,"audit_status":8,"page_count":139,"language":140,"language_code":63,"site_id":62,"html_lang":63,"table_of_contents":141,"faqs":142,"seo_title":143,"seo_description":67,"update_tm":144,"read_time":26,"preview_page_count":4},962084931830,"https://ap-avatar.wpscdn.com/davatar_a8503ba1806abce46bf441b54a3ca4cd","Commonfund Higher Education Price Index  \n2020 Update  \nWelcome  \nWe are pleased to share the 2020 update of the annual Higher Education Price Index® (HEPI) with the many stakeholders who make use of this data in their institutional governance and management processes.  \nEvery year the higher education community faces challenges unique to itself. This has never been truer than in fiscal year 2020, interrupted and disrupted as it has been by the novel coronavirus. As the data in this report show, costs this fiscal year did not reflect the enormity of this aberration; year-over-year changes were generally moderate, most likely because COVID-19 did not emerge until the final four months of the period. While the virus burst onto the scene with major impact, inflation—the long-term focus of this report—is one whose true effects are felt more gradually.  \nA change this year is the method by which HEPI data for faculty salaries and fringe benefits are calculated. This follows similar recalculations dating to 2015. As we did in the past few reports, we are restating data for the preceding five years for purposes of consistency and comparability. Changes in the methodology should be viewed as refinements and the continuity of data gathering and analysis that dates back as far as 1961 remains sound.  \nThe most satisfying part of producing this report every year is the feedback we get from trustees and senior managers telling us how they use HEPI. We hope this will remain true for 2020 and in the years to come.  \nGeorge Suttles  \nExecutive Director Commonfund Institute  \nCommonfund Higher Education Price Index | 2020 Update  \nTable of Contents  \nHIGHER EDUCATION PRICE INDEX INTRODUCTION 1   \nExecutive Summary 1  \nAbout HEPI 1  \nThe HEPI Tables 2  \nHIGHER EDUCATION PRICE INDEX ANALYSIS 5  \nHEPI for 2020 5  \nHighlights of 2020 Study 6  \nSupporting Data 6  \n5-Year Changes in Cost Factors: Figure 2 Analysis 7  \nHEPI for FY2020 versus a 5-Year Average: Figure 3 Analysis 8  \nSensitivity Analysis of the 8 HEPI Regression Components:  \nFigure 4 Analysis 9  \nSensitivity of HEPI to a 5 Percent Increase in Faculty Salaries or Miscellaneous Services: Figure 5 Analysis 10  \nHIGHER EDUCATION PRICE INDEX FOR  \nDIFFERENT TYPES OF EDUCATIONAL INSTITUTIONS 11  Faculty Salary Differences by Institution Type 12  \nHIGHER EDUCATION PRICE INDICES FOR  \nDIFFERENT REGIONS OF THE COUNTRY 14   \nLIMITATIONS AND OPPORTUNITIES OF HEPI  \nBY INSTITUTIONAL TYPE AND REGION 17   \nPURCHASING POWER AND SALARIES  \nOF FULL-TIME PROFESSORS 18  END NOTES 21   \nAbout Commonfund Institute  \nCommonfund Institute houses the education and research activities of Commonfund and provides the entire community of longterm investors with investment information and professional development programs. Commonfund Institute is dedicated to the advancement of investment knowledge and the promotion of best practices in financial management. It provides a wide variety of resources, including conferences, seminars and roundtables on topics such as endowments and governance; proprietary and third-party research such as the Commonfund Benchmark Studies®; publications including the Commonfund Higher Education Price Index® (HEPI); and events such as the annual Commonfund Forum and Investment Stewardship Academy.  \nCommonfund Higher Education Price Index | 2020 Update  \nHigher Education Price Index Introduction  \nExecutive Summary  \nCommonfund Higher Education Price Index® (HEPI) data show that costs for colleges and universities rose 1.9 percent in FY2020, a decline from the 3.0 percent increase in FY2019 and the lowest reading since 1.5 percent in FY2016 . The FY2020 increase was also below the five-year average annual increase of 2.4 percent.  \nYear over year, costs in FY2020 rose in six of the eight components tracked by HEPI and declined in two. Faculty salaries, the most heavily weighted component of the index at 35 percent, rose 2.7 percent compared with 2.6 percent in FY2019. Clerical costs, th","cbCaidaiTgggT8TJ","https://ap.wps.com/l/cbCaidaiTgggT8TJ","pdf",585790,24,"English","# Executive Summary\n## About HEPI\n## HEPI Tables\n# HEPI for 2020\n## Highlights of 2020 Study\n## Supporting Data\n## 5-Year Changes in Cost Factors: Figure 2 Analysis\n## HEPI for FY2020 versus a 5-Year Average: Figure 3 Analysis\n## Sensitivity Analysis of the 8 HEPI Regression Components: Figure 4 Analysis\n## Sensitivity of HEPI to a 5 Percent Increase in Faculty Salaries or Miscellaneous Services: Figure 5 Analysis\n# Higher Education Price Index for Different Types of Educational Institutions\n## Faculty Salary Differences by Institution Type\n# Higher Education Price Indices for Different Regions of the Country","[{\"question\":\"What was the overall HEPI cost change in fiscal year 2020?\",\"answer\":\"Costs for colleges and universities rose 1.9 percent in FY2020, down from a 3.0 percent increase in FY2019 and below the five-year average annual increase of 2.4 percent.\"},{\"question\":\"How did faculty salaries and fringe benefits change in FY2020?\",\"answer\":\"Faculty salaries, the most heavily weighted component, rose 2.7 percent versus 2.6 percent in FY2019. Fringe benefits rose 2.9 percent, below the prior fiscal year’s 3.5 percent increase.\"},{\"question\":\"How does HEPI compare with CPI inflation for FY2020?\",\"answer\":\"HEPI reported 1.9 percent inflation in FY2020, compared with a 1.6 percent Consumer Price Index (CPI) inflation rate, meaning the difference was only moderately higher by historical standards.\"}]","Commonfund Higher Education Price Index - 2020 Update | PDF",1792047895]