Where's all that money going?

The Delta Project on Postsecondary Education has an interesting study on why higher education prices keep going up.

The short answer is that public colleges and universities are raising the prices because state governments are cutting the funds to them. Privates are raising prices to improve services but not necessarily instruction.

Now I want to see the analyses that go into detail about when a college degree does and does not pay for itself. Conventional wisdom is that a degree is always a good thing -- no matter what the cost. Conventional wisdom also used be that owning a house was always a good thing.