> So where the FUCK is all that money going?

Please be aware that higher education is a massive dumping ground for the lowest-performing segment of the politically-connected managerial class, who are too cowardly and lazy to run for elected office, and too stupid and impulsive to make it in industry.

Academia is perfect, for them: a gigantic stage for demonstrating moral superiority and hiring friends, with no fundamentals that matter at all.