That is not a sustainable business model................
I saw this as a manager of contracts with universities.
And, it's not just colleges and Univs. So much of our educational system is loaded with layers of "administrators" with fake or useless positions, great salaries and bennies, and a gold plated retirement.
Comprehensive, scrupulous and thoroughly fair audits might be difficult, but they would be highly worth the effort.
It is a sustainable model as long as the government funds it.