Comment by evanagon

It's not just that. The system has ballooned on top of itself: the arms race that is higher education is in no small part a result of government issued loans that seem great at the time but turn out to be a nightmare in practice. Students get caught up in the hype of needing to be a part of the arms race (go to a "good" school) and borrow exorbitantly from their future without understanding what they're actually getting into. Then many companies that pay the best only recruit at the "best" schools, which fortifies the entire system and leaves many students from lower tier programs with a degree, a mountain of debt, and no job.