I Think that We May Have Identified Why College is So Expensive

And the truth from the most unlikely of sources, the New York Post:

City College President Lisa Coico’s Upper West Side home is just four subway stops from the Manhattanville campus, but Coico is chauffeured the two miles to work and back every day in a state-issued Buick.

Coico, whose salary is $300,000, is among nearly 70 SUNY and CUNY officials who enjoy the use of taxpayer-funded wheels and sometimes a driver. In Coico’s case the driver is a college public-safety officer.

In 2009, after The Post exposed the number of commissioners chauffeured to their jobs, the state cracked down on the practice, as well as the personal use of vehicles by agency heads. But the university systems set their own policies.

Both the SUNY and CUNY chancellors have cars and drivers. CUNY Chancellor Matthew Goldstein valued the personal use of his car last year at $14,985, the highest in the state.

College presidents are entitled to cars, as well.

The Ivory Tower execs are joyriding while students are struggling to meet soaring tuition, after trustees in 2011 approved $300-per-student increases for five years for the state and city college systems. CUNY students now pay more than $5,000 per year.

This is kind of a classic result of anti-competitive cartels.

The top universities in the nation have been colluding on tuition, fees, and financial aid for decades, they started in the 1960s, when the alternative to college was the Vietnam war, and once they stopped competing on price, they bid for professors, they build gold plated housing, and they overpaid administrators.

This is what happens with a cartel. They continue to compete, they just no longer compete on price, which leads to more spending on non core "bling", which increases costs, which increases tuition.

Rinse, lather, repeat.

It doesn't help that the US government is playing banker for all this, and refuses to institute meaningful cost controls.

H/t Atrios.