Spot on.  There&#x27;s also been an increasing competitive push between universities to deliver &quot;country club-esque&quot; experiences to students, which further drives up cost. (Separately, let&#x27;s not forget about the chaos of the educational publishing industry and the insane price points they command for modestly updated editions each year.)  But I think items 1 and 2 above -- and a lack of education about what loans are and the value of a higher ed degree to the potential student -- are the true culprits here. There&#x27;s a cultural expectation that all students will matriculate to college, and many high schools measure their success in terms of college attainment.  Meanwhile, there&#x27;s a lack of counseling&#x2F;education for students, so few know that they&#x27;re expected to repay loans and fewer explore the options (college and non-college) in front of them, and counselors would be working at cross-purposes with the secondary institution&#x27;s goals if they advised against attending college.  As demand for higher ed continues to grow, for-profit higher ed institutions continue to spring up to suck up federal loans and lower acceptance standards.