[raybbr]

Here's a little editorial you might find interesting: Commentary of the Day - January 28, 2009: Economic Crisis Hits Higher Education Hard.

I emailed the guy and he responded. I disagreed and tried to explain that it was over-availablity of money that drove college tuition up.

[bvw]

Well you are right, it is the over-availability of money which has allowed college costs to increase so much.

But it is important to understand in some depth what this particular “Over Availability” means and how it comes about. In the case of higher education it is governmental interference in the market that has caused it. Many factors to that interference. But all the most poisonous factors share a common aspect: Irresponsibility.

I would put it a bit different than you did. It is the increase in differential rate of addition of irresponsible money versus responsible money, which causes the biggest increases.