Health insurance costs.
Now, add to this: salaries and other benefits to both staff and educators. liability insurance. increased food costs. I'm certain facilities have increased costs also, from new construction to utilities. *Plus anything else I've left out.
Let's face it, everything has become more expensive. The Five Guys meal of a little cheeseburger, little fries, and regular drink which cost me $12 4 years ago in March, 2020 (I keep records), would cost me $17-18 today (I checked the prices today at noon and walked away). That's a 40-50% increase.
Why would we expect higher education to not be effected?