I've wondered how necessary it is for colleges to force a $50k tuition on students. Where does the money actually go? I'm skeptical. The administration at university just seems like one big, disgusting fraud.
That is just the summary, there is a more complete report available too. The high points for me was that employee compensation accounts for 60-70% of costs, with increases there being driven by benefits (I assume this means health insurance costs rising), and that only 30-40% of that 60-70 is spent on instructional staff.
It is entirely possible for a school to give an excellent education for an order of magnitude less than the large schools do, and this is evidence to me that most schools are horrendously inefficient.