Since 1980, the number of colleges has gone from roughly 2000 to roughly 3000. That doesn&#x27;t account for increases in class size.<p>The demand is still very strong. The millennial generation was told, go to college or you&#x27;ll have to flip burgers your whole life.<p>One huge problem is college demand is fairly inelastic. Another is that colleges are mostly non-profit institutions who aren&#x27;t out for institutional profits. Instead they compete for prestige. If they spend a bunch of money on useless shit, USNEWs will rank them higher.<p>Students and parents aren&#x27;t urged to consider price. In fact they are encouraged to ignore price. Just get in first! then worry about &quot;financial aid.&quot; Which is mostly just loans at this point.