A bubble in higher education?

Some people have already mentioned the fact that I am going to be paying for 3 college educations in a row. They ask: have you set up your college savings accounts? Are you putting money in every month? College is expensive, you know. Yes college is expensive. Why is it expensive? Are professor salaries high enough to justify $38,000 a year in just tuition? I think not. College is expensive because it can be. Everyone wants to go to college. And those who don't want to go are forced to by their parents. In NYC, everyone seems to be in college. There are many many colleges here. Some are traditional universities and others are internet based universities. I think college tuition has risen higher than the rate of inflation simply because there is so much money available to students--lots of government grants, low or zero interest loans guaranteed by Uncle Sam (YOU). If schools don't raise their tuition they are leaving that money for other universities to gobble up. Apparently, I'm not the only one who thinks this. Read this.