Table 25.

Expenditures of educational institutions related to the gross domestic product, by level of institution: Selected years, 1929–30 through 2006–07

Year	Gross domestic product (GDP) (in billions of current dollars)	School year		Expenditures for education in current dollars
				All educational institutions		All elementary and secondary schools		All postsecondary degree–granting institutions
				Amount (in millions)	As a percent of GDP	Amount (in millions)	As a percent of GDP	Amount (in millions)	As a percent of GDP
1	2	3		4	5	6	7	8	9
1929	$103.6	1929–30		—	—	—	—	$632	0.6
1939	92.2	1939–40		—	—	—	—	758	0.8
1949	267.3	1949–50		$8,494	3.2	$6,249	2.3	2,246	0.8
1959	506.6	1959–60		22,314	4.4	16,713	3.3	5,601	1.1
1961	544.7	1961–62		26,828	4.9	19,673	3.6	7,155	1.3
1963	617.7	1963–64		32,003	5.2	22,825	3.7	9,178	1.5
1965	719.1	1965–66		40,558	5.6	28,048	3.9	12,509	1.7
1967	832.6	1967–68		51,558	6.2	35,077	4.2	16,481	2.0
1969	984.6	1969–70		64,227	6.5	43,183	4.4	21,043	2.1
1970	1,038.5	1970–71		71,575	6.9	48,200	4.6	23,375	2.3
1971	1,127.1	1971–72		76,510	6.8	50,950	4.5	25,560	2.3
1972	1,238.3	1972–73		82,908	6.7	54,952	4.4	27,956	2.3
1973	1,382.7	1973–74		91,084	6.6	60,370	4.4	30,714	2.2
1974	1,500.0	1974–75		103,903	6.9	68,846	4.6	35,058	2.3
1975	1,638.3	1975–76		114,004	7.0	75,101	4.6	38,903	2.4
1976	1,825.3	1976–77		121,793	6.7	79,194	4.3	42,600	2.3
1977	2,030.9	1977–78		132,515	6.5	86,544	4.3	45,971	2.3
1978	2,294.7	1978–79		143,733	6.3	93,012	4.1	50,721	2.2
1979	2,563.3	1979–80		160,075	6.2	103,162	4.0	56,914	2.2
1980	2,789.5	1980–81		176,378	6.3	112,325	4.0	64,053	2.3
1981	3,128.4	1981–82		190,825	6.1	120,486	3.9	70,339	2.2
1982	3,255.0	1982–83		204,661	6.3	128,725	4.0	75,936	2.3
1983	3,536.7	1983–84		220,993	6.2	139,000	3.9	81,993	2.3
1984	3,933.2	1984–85		239,351	6.1	149,400	3.8	89,951	2.3
1985	4,220.3	1985–86		259,336	6.1	161,800	3.8	97,536	2.3
1986	4,462.8	1986–87		280,964	6.3	175,200	3.9	105,764	2.4
1987	4,739.5	1987–88		301,786	6.4	187,999	4.0	113,787	2.4
1988	5,103.8	1988–89		333,246	6.5	209,377	4.1	123,868	2.4
1989	5,484.4	1989–90		365,825	6.7	231,170	4.2	134,656	2.5
1990	5,803.1	1990–91		395,318	6.8	249,230	4.3	146,088	2.5
1991	5,995.9	1991–92		417,944	7.0	261,755	4.4	156,189	2.6
1992	6,337.7	1992–93		439,876	6.9	274,635	4.3	165,241	2.6
1993	6,657.4	1993–94		461,157	6.9	287,807	4.3	173,351	2.6
1994	7,072.2	1994–95		485,369	6.9	302,400	4.3	182,969	2.6
1995	7,397.7	1995–96		508,523	6.9	318,046	4.3	190,476	2.6
1996	7,816.9	1996–97		538,854	6.9	338,951	4.3	199,903	2.6
1997	8,304.3	1997–98		570,471	6.9	361,615	4.4	208,856	2.5
1998	8,747.0	1998–99		603,847	6.9	384,638	4.4	219,209	2.5
1999	9,268.4	1999–2000		649,322	7.0	412,538	4.5	236,784	2.6
2000	9,817.0	2000–01		705,017	7.2	444,811	4.5	260,206	2.7
2001	10,128.0	2001–02		752,780	7.4	472,064	4.7	280,715	2.8
2002	10,469.6	2002–03		795,691	7.6	492,807	4.7	302,884	2.9
2003	10,960.8	2003–04		830,293	7.6	513,542	4.7	316,751	2.9
2004	11,685.9	2004–05	1	875,469	7.5	540,469	4.6	335,000	2.9
2005	12,433.9	2005–06	1	923,000	7.4	567,000	4.6	356,000	2.9
2006	13,194.7	2006–07	1	972,000	7.4	599,000	4.5	373,000	2.8

— Not available. 1 Estimated. NOTE: Total expenditures for public elementary and secondary schools include current expenditures, interest on school debt, and capital outlay. Data for private elementary and secondary schools are estimated. Expenditures for colleges and universities in –30 and 1939–40 include current-fund expenditures and additions to plant value. Public and private degree-granting institutions data for 1949–50 through 1995–96 are for current-fund expenditures. Data for private degree-granting institutions for –97 and later years are for total expenditures. Data for public degree-granting institutions for 1996–97 through 2000–01 are for current expenditures; data for later years are for total expenditures. Data through 1995–96 are for institutions of higher education, while later data are for degree-granting institutions. Degree-granting institutions grant associate's or higher degrees and participate in Title IV federal financial aid programs. The degree-granting classification is very similar to the earlier higher education classification, but it includes more 2-year col­leges and excludes a few higher education institutions that did not grant degrees. (See Guide to Sources for details.) Some data have been revised from previously published figures. Detail may not sum to totals because of rounding. SOURCE: U.S. Department of Education, National Center for Education Statistics, Biennial Survey of Education in the United States, –20 through 1949–50; Statistics of State School Systems, 1951–52 through 1969–70; Revenues and Expenditures for Public Elementary and Secondary Education, 1970–71 through 1986–87; Common Core of Data (CCD), "National Public Education Financial Survey," 1987–88 through –05; Higher Education General Information Survey (HEGIS), Financial Statistics of Institutions of Higher Education, 1965–66 through 1985–86; 1986–87 through 2004–05 Integrated Post­secondary Education Data System, "Finance Survey" (IPEDS-F:FY87–99), and Spring 2002 through Spring 2006. U.S. Department of Commerce, Bureau of Economic Analysis, unpublished data. (This table was prepared August 2007.)