I’m Romanian, I’ve just finished high school, I’m currently taking the Bacalaureat, and I’ve already been admitted to an American university (USC). I knew from the start that I wanted to study abroad, and I’ve always been fascinated by California, especially Los Angeles, so the U.S. was my first choice. That said, I also looked into universities in the UK, the Netherlands, Canada, and Ireland, and their tuition fees are significantly lower.
State governments realized they could reduce their funding towards universities (or keep it fixed while it devalues due to inflation) and push the cost onto students. Administration has also exploded in numbers. Many get paid much more than faculty. Universities have also expanded services and features to make students want to come. Universities can’t raise prices higher than students are willing to pay. Note students are also not guaranteed to get federal loans plus there are limits. Private loans aren’t guaranteed either but have a variety of programs.
Universities are "adjunctifying many positions and adjunct professors are not paid well. Some faculty are homeless.
Hey, let’s talk about real important people in the university, the american football coach
The guarantees for student loans actually go the other way - the guarantee is for the lender. Given the amounts people generally need for an education, along with a complete lack of income, students wouldn’t be able to get a loan of sufficient size without government stepping in as a backstop.