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I don't even think it's primarily a problem of subsidization. The costs have skyrocketed due to factors unrelated to education -- massive increases in administrative staff, new buildings, more luxurious buildings, vastly improved housing options etc. These come with a cost, and unfortunately it seems that we've over purchased/overbuilt thus making college unaffordable.

It's just like every hotel moving up to the 5 star level, it's unnecessary and expensive.

If it hadn't been for student loans, the money wouldn't have been there to support the increase in costs. It's a problem similar to health care: some people, at the end of their lives, will spend $500,000 on treatments that give them another 6 months of suffering. If it was your own money, you wouldn't do it. If it is somebody else's money, you will.

I completely agree.

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