A lot of the increase was driven by the "arms race" to attract the best students by building ever more facilities to make their ever glossier brochures more att

A lot of the increase was driven by the "arms race" to attract the best students by building ever more facilities to make their ever glossier brochures more attractive. My school when I was leaving in the early 2000s was on a $200 million dollar building spending spree- a new library, a new sciences building, etc. I don't have a citation for this, but I had read somewhere awhile back that the administrative ranks have swelled at these schools and they are making tons more money than they used to in the past as well.