The interest on their endowments does not exceed their operating expenses. They literally live on tuition; raising tuition is often counterproductive as studen

The interest on their endowments does not exceed their operating expenses. They literally live on tuition; raising tuition is often counterproductive as students without aid will choose cheaper schools since prestige doesn't really come into play. Similarly, lowering tuition puts a bigger burden on the school - professors don't have grad students to abuse.