When my father came from Singapore to the US in the 1970s to attend college, the exchange rate was 1 USD to 5 SGD. When I started my freshman year in 2004, the exchange rate was 1 USD to 1.6 SGD. Today, the rate has dropped to 1 USD to 1.2 SGD. By this measure, the cost of a US education has become much cheaper over the years.
There are any factors at play here. Mahmood was quick to point out that in the1970s the nation of Singapore was a very new country and we should really be comparing PPP. But I wonder, if we normalize the numbers, how does this look?