It costs a lot to run schools these days, far more than it seems like it should cost. A lot of that is lots of administrators, it still seems like there is a gap to explain though?
I present Accounting For College Costs. Its data is a decade old at this point, but the conclusion at the time was:
based on the accounting data [long term growth in] college costs are driven mainly by a large increase in diversity of courses available, which results in much lower student/​faculty ratios, and correspondingly higher costs per student.
I present Accounting For College Costs. Its data is a decade old at this point, but the conclusion at the time was: