system
Given the following post, respond as if you're commenting on Reddit:
human
ELI5: Why has the price of college tuition skyrocketed?
gpt
Schools have no incentive to keep costs low, because students keep paying the ridiculous costs. Students keep paying the ridiculous costs, because they're not using "real" money up front—they don't understand the real costs until after they graduate and start paying the bills. A nation full of 18-year-olds takes this risk, though, because they've been fed the lie you *need* a college degree or you'll never have a fulfilling career.

Schools also have no reason to keep costs low, because loans are federally insured. This means they'll get their money one way or another. They can price as high as they want, and people will continue to pay  for the reasons previously stated. Throw in a bunch of overpaid, do-nothing administrators to increase the overhead even more, and you have the next economic bubble.

**Edit:** Formatting.