There are many reasons why schools have become more expensive over the years. The cost of health care, alone, is growing much faster than the rate of inflation.

But honestly, most universities went on a building spree over the last twenty years. Fancy dorms and labs and classrooms and athletic facilities really start to add up -- and grants rarely pay for them. As I said before, there are tons of inefficiencies in the university system. I just don't think they're in the classroom.