It seems that every year, college tuition gets higher and higher. While it is expected that the amount would rise as time passes, it was not expected that it would skyrocket to five-digits or higher in the past several years.
As the price gets higher, more young people find themselves deeply in debt for the "investment" of education, which often times turns out to not be an investment at all. With a tough job market, many find themselves working the same jobs they did as high schoolers for minimum wage.
To find out why college costs increase so much every year, Virginia commissioned a state board to analyze how universities spend their money.
They found the main reason tuition is high is because of the facilities and auxiliary services many universities offer.
"Your tuition is pricey because you basically live in a country club," said MSN's Michaela Gianotti.
College spending on services like housing, dining and intercollegiate athletics has increased exponentially. In Virginia, spending per student has risen 11 percent in the past 10 years, and the main reason for that jump is auxiliary expenses.
They also found a somewhat disturbing finding. Many colleges spend their money on non-essentials, or things that will increase their "cool" factor and competitiveness.
This might come as no news to those who lived in dorm rooms that looked more like apartments and ate at cafeterias with self-serve ice cream machines.
Another problem with non-essential spending is that it lowers the public aid colleges receive, which contributes even more to higher education costs.
But there are some exceptions.
"At almost all institutions, auxiliary services are bringing in more revenue than is being spent," said Donna Desroches at Delta Cost Project.