Similar pattern is there for College education in US. A lot of discussion is around loans and financial aid but not why basic classroom based degrees cost so much.
There I think it's just supply and demand. Around the 1970s the job market shrunk and suddenly everyone wanted a college degree so they could get a decent job. The pressure's continued to increase to the point where you have 400+ students in an introductory classroom. http://www.nbcnews.com/id/21951104/ns/us_news-education/t/mo...
There are some new universities being founded to increase supply, but online education is taking off too.
There are some new universities being founded to increase supply, but online education is taking off too.