Which universities are you talking about? State schools are not flush by any stretch. Yes, tuition money is up, but funds from state legislatures are down significantly. Some state universities get less than 10% of their revenues from the state government, down from 60+% in the 1950s through 70s. That is a fundamental change in the role of a university in the country, and in who it serves.
https://fivethirtyeight.com/features/fancy-dorms-arent-the-m...