[reader5000]

The core problem is exploiting inelastic demand in charging 30k for something that could be provided at 2k.

[eru]

You are not paying for the education, you are paying for the signalling. And the signalling is basically auction.

[reader5000]

I 100% agree you're paying for the signalling. But it's not an auction. Unless by auction you mean "the seller gets the government to pay upfront any price the seller chooses, and the government and buyer (student) get to work it out later as they see fit".

[eru]

Oh, it's an auction in the sense that the students bid for education-signalling. With their money and their (prep-) time.