If Colleges Didn't Waste Your Tuition, We Wouldn't Need New Student Loan Reform - Guardian

[Algernon Moncrieff]

5. As a Cal alum, I'd like to respond

According to University of California-Berkeley's Debt & Society project, rising higher education spending is in large part driven by factors that have little to do with the quality of instruction or academic resources: schools are pouring gobs of capital into material amenities like student lounges and sports arenas, and this spending in turn raises the cost of the debts schools incur to finance these projects. Much of this investment plays into the business of college – marketing the campus to students who foot the bill and bring in more revenue.

This conclusion is hilarious coming from a school that spent half a billion dollars doing a renovation of a football stadium built on the Hayward fault.