They also have to spend a lot of money on computer labs, stadiums and gyms and such to boost the reputation and attractiveness of the school. It's much easier t

They also have to spend a lot of money on computer labs, stadiums and gyms and such to boost the reputation and attractiveness of the school. It's much easier to judge how beautiful and modern a school is during a quick visit than it is to judge teaching quality. Furthermore, 18-year-olds with guaranteed loans don't look at the price tags for those gimmicks rationally. When you're a kid with $300 in the bank the difference between a $50,000 loan and a $80,000 loan is so abstract it might as well not exist. Combine those two factors and you get runaway spending and debt with little emphasis on teaching quality.