"Let's see, average amount of student loan debt per graduate is $30k. Student loans are usually a life-altering debt, designed to take decades to pay off. That means for every year this chode gets paid $1M, 33.3 students are stuck with paying off his yearly salary for the next 20 years. "
And that's just 1 person. And it's pretty easy to connect the dots to the real problem, being that of administration is the one making the rules now for education, not the faculty and academics. (2) (3)
Now, there is an argument that because more regulations and laws are passed, that is why administration is being.. bloated. I'm not so sure how true this is, but is is another factor that does seem to take a part of the whole situation. (4)
(1) https://www.reddit.com/r/news/comments/7j755s/number_of_coll...
(2) https://www.jamesgmartin.center/2017/06/administrative-bloat...
(3) http://volokh.com/2010/08/24/administrative-bloat-at-univers...
(4) https://www.chronicle.com/article/Think-College-Costs-Too-Mu...