When education becomes more of a financial burden, it makes sense to ask whether students are getting their money’s worth.

Bloomberg View reports.

Making College Cheaper Is Easy. Open More Colleges.

Something is wrong with U.S. universities. Not catastrophically wrong, but wrong enough to warrant a push for reform.

The problem is cost versus benefit. Although net tuition has only risen for students from higher-income families during the last two decades (because students with wealthier parents receive less financial aid), costs for textbooks and room and board have soared for all students.

And parents, perhaps struck by the recession, or perhaps skeptical of whether college is worth the price tag, have been shouldering less of the cost, leaving students more deeply in debt than ever. Although defaults are much higher among students of for-profit colleges, debt levels have risen at all types of schools. Even if students pay back their loans, the presence of those liabilities on their household balance sheets will constrain their life choices.