The Vicious Circle of College Tuition

Neal at the Cato blog makes what I consider to be an important observation:

The political cycle that drives tuition is actually easy to understand: Some people complain that tuition is too high and demand that politicians make college “affordable.” Politicians, to get votes, provide student aid. Then schools, suddenly able to get more money, raise tuition. But wait, that makes college “unaffordable” again! And so it goes…

He has an update to the previous post here.