Reason #1: Tuition has been increasing at
"On average, college tuition has increased at around 8 percent per year, which means the cost of college doubles every nine years. Because colleges know that students will simply borrow more money to cover tuition increases, colleges have been relying on steady tuition hikes to solve all of their money problems. If this continues a college degree will soon cost as much as a house."
Read more here.
MP: Actually, tuition has been been increasing annually (7.88%) at more than three times the rate of inflation (2.37%) since 1978, see chart above. The article points out that "unlike the housing bubble, in which foreclosure and bankruptcy allowed people to have a fresh start, the college tuition bubble will haunt young people for life unless bankruptcy laws change" (since student loans are not dischargeable in bankruptcy).
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