- College costs have risen much faster than inflation.
- At the same time, state subsidies funding universities have declined fairly dramatically since the recession, further increasing out of pocket costs.
- For many students, prestige and amenities are much more important than cost. When you see someone paying six figures for a university education, they're not picking the high-quality, cheap option. They're picking the (hopefully) high-quality, prestigious option.
- In the USA, anyone can go to a university. Anyone. Academic ability is almost irrelevant. Unfortunately, the least academically qualified students are often persuaded into attending very expensive for-profit universities.
- Student loans are very readily available.
- Academically excellent students in many, maybe even most, states almost always get a free ride to an in-state public university.
- Two year community colleges are very cheap, and generally offer an Associate's degree and easy transfer to the closest four-year university.
It is still very possible to go to school and graduate with no debt. I did it in 2011.