Why a college education is so expensive has two dimensions. First, many college campuses, particularly of elite universities, are well-manicured parks. I did my graduate work at Cornell, an extraordinarily beautiful place I enjoyed very much, ranging from its racquetball court to its lakes. No sane student would be unhappy there, but the cost of building and maintaining a college campus is staggering. Moreover, the value of the university properties, if they were sold, would make a serious dent in the student loan problem. There is no inherent reason why a college education requires such
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