For the record, I’m not American nor live in the US, but I have a 19-year-old son who started attending the University of Chicago this year, studying economics. Just the tuition itself is $70k. My husband and I are lucky enough to be able to afford it - I still believe it’s an outrageous amount of money to attend college.
Because idiots keep paying for it. There are so many options for low/no cost education in America but people keep flocking to the same dozen schools for “the prestige” dispite the quality of undergrad education being comparable if not worse than state universities or community colleges.