In a functioning market for any other service, degree pricing would follow some sort of expected utility curve - students would only be willing to pay for thier

In a functioning market for any other service, degree pricing would follow some sort of expected utility curve - students would only be willing to pay for thier expected value of the degree. But, student loans dont behave like standard loans, the payoff of expected utility is a long way down the track, and Universities cultivate/market these intangibles like prestige and networking as a justification for the higher prices.