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Why College is so Expensive

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College graduates earn 98% more per hour than people with only a high-school diploma, up from a 40% premium 35 years earlier.
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College classrooms are typically occupied just 23% of the time, while colleges maintain them during the remaining 77%.
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At Ohio State, the state’s share of the university budget fell from 25% in 1990 to 7% in 2012.
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Faculty and university employee salaries and benefits consume about $24,000 of a $32,000 annual tuition bill.
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About 85% of full-time degree-seeking students at four-year universities receive financial aid averaging $15,500.
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Over a lifetime, skipping college means forfeiting about $500,000 in potential income on average.
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When a major becomes popular, colleges compete for scarce specialized professors, raising pay to attract professors and students.
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Average annual tuition at a four-year private college rose from $3,500 in 1980 to $32,000 in 2016.
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Competition for students pushed colleges to add amenities and the management required to operate them.
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Staffing and buildings are the two largest contributors to college costs.

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