I went to a private college that currently charges $36,000 for tuition, room and board. This is a college that produces more future PhDs per capita than all but two other colleges in the country. In my humble opinion, the expense is worth it because of the extraordinary opportunity for learning that exists at a college with a traditional great-books curriculum and a serious, intellectual culture. And it happens that at least half the students at this college have financial aid, often lots of it (I certainly did in my day).
However -- you can get a decent education for < $4,000 a year (tuition) where I hold tenure as an associate professor of math, a regional campus of a well-known public university. You're on your own to seek out the degree programs with real content and substance (we offer plenty of content-free fluff degrees such as the dreaded "bachelors in general studies" that hundreds of our students opt for). But we do have quality programs taught by professors who love learning and teaching.
I have a daughter who's a rising senior in high school and looking for a good college. Her grades and SAT scores are excellent. She's thinking small but rigorous liberal arts school - possible majors history, biology, or maybe theology (don't know where that fell from!) Could you disclose the name of your alma mater? FReepmail me if you like. Thanks.
I think Vetter is right on this, though. The place to start is with removing all aid. He shows that tuition increases FOLLOW aid, and so aid is driving the higher costs. Your $36,000, while at a premium school, would have been perhaps one-third that without aid being available to all.