Colleges have no incentive to control cost today. As Brandon says, cost at 4 year colleges have exceeded inflation rates for years. Why, because everyone, I mean everyone, qualifies for as much student debt as they want to take on. Universities know that they don't have to be competitive because the government will loan the money to cover anything they want to charge.

Anyone think of any other opportunity to borrow money where basically no credit check is required, no plan to repay the money is required and no down payment needed? The student debt crisis that is about to hit this country will cause severe hardship for a number of people.