Computation
Calculating the Independent College 500 Index
The IC 500 is calculated by dividing the sum of the total direct charges (TDC) for the year being reported (y) by the total number of undergraduates enrolled (E) during the previous year (y-1). This can be represented by the following formula:
| IC 500 = | Sum of TDC for the 500 institutionsy --------------------------------------------- Sum of E for the 500 institutionsy-1 |
Although the College Board did not issue an IC 500 prior to the 1986-87 academic year, this table can be used to compare the approximate values that would have been associated with such an index over a 24-year period:
| Year | IC 500 |
|---|---|
| 1983-84 | $ 8,346* |
| 1984-85 | $ 9,016* |
| 1985-86 | $ 9,751* |
| 1986-87 | $10,533 |
| 1987-88 | $11,312 |
| 1988-89 | $12,205 |
| 1989-90 | $13,256 |
| 1990-91 | $14,294 |
| 1991-92 | $15,382 |
| 1992-93 | $16,272 |
| 1993-94 | $17,247 |
| 1994-95 | $18,186 |
| 1995-96 | $19,153 |
| 1996-97 | $20,121 |
| 1997-98 | $21,051 |
| 1998-99 | $22,055 |
| 1990-00 | $22,991 |
| 2000-01 | $24,088 |
| 2001-02 | $25,340 |
| 2002-03 | $26,734 |
| 2003-04 | $28,277 |
| 2004-05 | $29,791 |
| 2005-06 | $31,465 |
| 2006-07 | $33,270 |
| 2007-08 | $35,272 |
| 2008-09 | $37,208 |
| 2009-10 | $38,799 |
*Calculations performed retrospectively on historical data.