Here's a question. Why is college so expensive? I'll attempt first, since I asked...
It's a controlled market. Who here would like to open their own school? Anyone? Well, if you do, too bad, because unless you're a kabizzilionair, you can't afford to pay for everything needed to open a state accredited school. In short, then, while there IS competition in the market, NEW competition is few and far between, ans VERY slow to rise. Regulation.
So, fine, just don't go to college, right? But those jobs you want...you can't get them without the proper acredidation. You can't be a CPA without going to college, legally not allowed. Can't be a mechanic without being ACE certified, and a few others. Can't be a chef, can't be ANYTHING, without the proper, state approved certification, from a proper, state approved certification administer; college. Regulation.
In short, regulation creates the demand for college, regulation limits the supply of college.
And what is value? Supply and demand.
Couple that with government backed places like Sally Mae, and other loan institutions, and colleges can charge most anything they want, because they know most can get the loan, no matter how absurd, and what do they care about a student's ability to pay? That's the loan companies problem, not theirs, right?