Why is education expensive? Because it's heavily subsidized by the federal government. I've been calling it the educational industrial complex for years.
https://www.cato.org/blog/federal-student-loans-rising-tuition-costs-insider-speaks
A 2017 study from the Federal Reserve Bank of New York found that the average tuition increase associated with expansion of student loans is as much as 60 cents per dollar. That is, more federal aid to students enables colleges to raise tuition more. Salaries rise; bureaucracies expand; more courses — from “History and Analysis of Rock Music” to “Ultimate Frisbee” — are offered; dorms, dining halls, and recreational centers become more lavish. Even with all this spending, employers don’t find that new grads are well prepared for the workplace.