My favorite explanation of why tuition continues to rise is simple: people are still willing to pay ever higher prices. One step removed from that, the explanation hinges on student loans being too cheap and easy to get.

I've always found it baffling that anybody expected to solve the college affordability issue by making student loans cheaper and easier to get. When we do the same thing with mortgage rates, we expect the prices of homes to rise. Why do we expect any different of college tuition prices?