why you've seen inflation in higher education just eclipse anything, even health carries minor the amount of inflation compared to higher ed. clearly it is economics 101. that if you give people the money to pay almost any price, the people who are charging it will charge more. gregg: what's astonishing, tuition actually has very little to do with real actual costs and the reason i know this is, i read your study at the cato institute. i want to put it up on the screen here. here is college tuition, undergraduate, residential, includes room and board. the average cost to educate is roughly $8,000 per year but you found that the average college bill is roughly $37,000 for private schools, 16,000 for public. neil, colleges can raise tuition with impunity, because they know they're going to get paid no matter what, right? >> yeah, ultimately that's what
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