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Why is college so expensive?
College has become increasingly expensive due to multiple factors.
First, reductions in state funding for public institutions have shifted the financial burden
to students.
As a result, schools raise tuition to maintain operations.
Second, there's an increasing demand for amenities, better facilities, and advanced technologies,
driving up operational costs.
Third, administrative bloat, with growing numbers of non-teaching personnel, has expanded
institutional budgets.
Additionally, the availability of student loans can inadvertently incentivize colleges
to increase tuition, knowing loans cover the cost difference.
Furthermore, the prevailing notion that a degree is essential for career success fuels
a high demand, allowing institutions to raise prices.
Lastly, colleges invest in reputation-building endeavors, like research programs and top
faculty, further driving up expenses.
Consequently, students and families face escalating costs.