We have talked about this many times on here. There are many reasons for the absolutely unconscionable rise in tuition - easy money from banks (backed by the feds) certainly is one, but higher ed is a bizarre place where supply and demand have no effect on price. Schools compete for the best students, and spend money on mind-boggling things. The number of administrators has doubled in the last two decades on many campuses. Very few don't have brand new, sparkling student centers and gyms. College presidents routinely make over a million dollars. And there are studies that show that Harvard drives a lot of this - when they raise prices, the other ivies respond (so as not to look cheap[!]), and it trickles down.
It is an absolute abomination. Something has to give.