If the price of milk went up as much as the cost of college tuitions have risen over the past 20 years, we'd all be paying $15 for a gallon of milk right now. Harvard has a $36 billion dollar endowment (which isn't taxed!) and even received a 23% return on its investments last year. Harvard, however, only spends 0.8% of its endowment helping its students. Harvard costs what, $40-50k per year? If you make $120,000 then you get no financial aid at Harvard. What person who makes $120K can afford $40-50K for tuition? In fact, a lot of universities spend almost 2x's as much on an investment manager than the amount of money they give to a student. Here I thought universities were supposed to be institutions of higher learning, not money making business machines.