<p>My opinion is that the high cost of college is due to the high numbers of people chasing a college degree. US society believes a college education is job training; bachelor’s degrees are slowly becoming the new high school diploma while master’s degrees are the new bachelor’s.</p>
<p>The perfect example is the housing bubble. Houses that were priced at $500k suddenly dropped to $200k, in many cases the house had no physical improvements. The market will correct itself once more people realize that you can only have so many bachelor degree holders and not enough welders, machinists, electricians, plumbers, etc.</p>