Baumol's Cost Disease: http://www.amazon.com/Why-Does-College-Cost-Much/dp/01902141...
"Part of the reason," yes, but take a look at Why Does College Cost so Much? by Archibald and Feldman (http://www.amazon.com/Why-Does-College-Cost-Much/dp/01997445...). Their short answer is "Baumol's cost disease. The long answer is the book.
I've written about this issue in more detail here: http://jseliger.wordpress.com/2011/09/04/from-the-department... and elsewhere.
People have said that college in its conventional structure will remain essential right up to the point where middle-class families can't afford it any longer, and I have a feeling we're reaching that point. If you'd like to know more about why, check out Why Does College Cost So Much? Tl;dnr: Baumol's Cost Disease combined with student loans (http://www.amazon.com/Why-Does-College-Cost-Much/dp/01997445...).
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