It's worth mentioning that degree granting institutions numbered ~3500 in 1980 and total enrollment was almost 10 million, and in 2022 there were just over 4000

It's worth mentioning that degree granting institutions numbered ~3500 in 1980 and total enrollment was almost 10 million, and in 2022 there were just over 4000 such institutions serving 17 million students, and that number of institutions is actually declining from its peak in ~2016. This alone is bound to drive up prices.