Same reason why the housing prices sky-rocketed back when.
EVERYONE should be able to have a home/college-education.
The government will provide easy/cheap loans so everyone can have a home/college-education.
And everyone is off and getting those cheap loans to get a home/education, thus increasing the demand.
Of course this is an artificial demand. And when those cheap and easy loans finally needed to be paid for those houses, the housing market tanked. Coming soon to the education business. Although it will still be awhile before the prices come back down. I’m guessing probably the year after my last kid graduates :(
Great post
Here’s the BIG EDUCATION cycle:
Govt provides virtually unlimited cheap money for students to borrow
Schools raise prices to soak up funds
Schools pay admins and profs large salaries
Admins and profs donate to Democrats
and repeat