Comment: Re:does it surprise you? (Score 1) 541
"There is a huge amount of waste and fraud."
You are right. There is. But it's a private college -- and likely suffer far less from this than a public university. And that's not the ONLY reason. What happened between then and now? Oh yeah! Government funded student loans and government admission requirements! Think that didn't drive up the price?
"It really is a mystery."
Not so much. When the market was more "free", tuition at Harvard was cheaper (per your example). Toss in government involvement (ease of student loans, regulate admissions standards for example) and get a FLOOD of applicants they can't POSSIBLY take who can ALL FIND the money SOMEWHERE -- the price will go up. It's not so mysterious. Not saying that SOME government regulation isn't in order -- but what was implemented has made the cost of a college education terribly expensive.