Most college students and professors believe they are helping alleviate income inequality when in fact they are exacerbating it.

With the story is Elizabeth MacDonald of Fox Business:

Colleges Worsen Income Inequality

Tuition gouging for degrees that are useless in the real world and a failed business model have put U.S. colleges front and center as exacerbating income inequality.

Many college students are increasingly getting priced out of getting the very same skills elected officials in Washington, D.C. have strenuously argued are needed to stop rising pay gaps.

Annual private college costs have surged 24% over the last ten years, to $40,917 on average, and are up 37% for public universities, to $18,391, data from the College Board show. At the same time, median U.S. household income has steadily dropped 5.7% from 2003 to 2013.

Meanwhile, student unemployment worsened over the last decade: The 20-to-24-age bracket saw jobless rates rising to 11.1% from 9.5% in 2003, and for 25 and older, it grew a percentage point to 5.6%.

Over the decades, college officials have used their nonprofit status to build an unsustainable business model more akin to hoteliers, one that real estate mogul Donald Trump would envy. And all on the backs of taxpayers, students and their families.