Will U of A and KSU campus investments pay off?

The first paragraph in today's AP story says it all:

"The near doubling in the cost of a college degree the past decade has produced an explosion in high-priced student loans that could haunt the U.S. economy for years."

The story goes on to tell us the worst kept secret in America: the high price of higher education is really, really costing all of us.

While I love to spend time at the U of A and Kent State -- both have made exceptional investments in their campuses -- I can't help but wonder if the infrastructure upgrades really lead to a better educational experience. I'm sure they lead to a better college experience because so much of higher ed and coming-of-age as an adult are social.

Unlike our parents' days when four years of higher ed meant immediate employment opportunities, a bachelor's degree rarely equals a job any more. So is it really worth a $30-$40K investment -- or more -- for that four-year degree when so much of the cost increase has been tied to campus upgrades?

I understand that higher education is a business .. and the product has to be attractive to bring in customers. I get it. Still, if you could take the same classes in older buildings for half as much money, wouldn't that be something many families could better afford? I realize the dorms wouldn't be as nice as the gorgeous new U of A facility on Exchange Street, but if it saved me $10K over four years to live in a revamped apartment, wouldn't parents have to consider it?

Today's mammoth student loans are creating college grads who are becoming indentured servants to the Federal Government ... just as the out-or-reach college costs are sending thousands of others to what's become a back-door military draft as the only way for many to truly pay their own way.

Is a bachelor's degree really worth the cost if you can't own a home til you're 40 because you're paying off so much in student loans .. and that's only if you can find a job in your field?

Maybe the answer to keeping the class of 2012 from digging a financial ditch is to remind them that college life today is a lot about paying for the incredible wrapping paper in hopes that the gift inside will be a wise investment and not just another old CD eventually bound for eBay.