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It's way worse than 2-3X inflation.
Paying for your college, 30 years ago vs. today
Tuition rises faster than minimum wage, early-career salarieswww.marketwatch.com
As for @upstater saying it's all about less funding, I'd say that's a part of it. A major part of the problem is the competition for students. Look at the new UConn rec center. I went inside on a tour with my daughter. It's a $100M abomination. And comes with a new mandatory fee to defray the cost. You want a place for students to work out? Encourage Planet Fitness to open near campus. Done.
Look at European colleges. No sports teams. Big classes. Many don't have dorms or common areas. You get an apartment, take public transit to campus, go to classes and that's it. There aren't thousands of funded clubs, and they are more select about what departments they have. You generally won't see nearly as many potential majors. Their costs have not risen nearly as much.
The fact that there are amenities that weren't there before does not mean spending has increased exponentially. It hasn't. All you have to do is take the budget and divide it by students. They can afford rec centers or whatever by cutting elsewhere, chiefly in core instruction. Used to be 75% of the faculty were tenured or tenure-track. Now it's down to less than 25%. Technology is actually a huge cost, as is health care. But then you look at the budgets and realize that they aren't spending a lot more money overall.
A long terms study of costs correlated the cuts in state funding to the rise in tuition, and it was almost exact. It used the Cal-system, which has seen a 1,100% increase in tuition in the last 30 years. State funding per student at Cal (Berkeley, etc.) went from $16k+ per student to $9k+. Tuition increased from $1k to $11k+. Then you look at the budget and the increase tracks with inflation.