Why is college so expensive?

Tyler Cowen with some insightful comments.

Also: The interview that spawned those comments. I like the last few sentences and the comments on the HOPE scholarship. Another point: when we means-test food stamps it's so that we can direct the aid to the poor. Means-testing college scholarships, however, doesn't do much to shift aid to the poor. It all ends up in the hands of the (soon to be) upper middle-class.