It’s difficult for me to feel bad for these institutions. They jacked up tuitions and caused an entire generation of people to carry lifetime of crippling debt.
It's not like universities are just lining their pockets. I'm a humanities professor at a small liberal arts college with a high tuition, and we struggle to pay professors fair wages (when compared to peer institutions, which doesn't even account for differences in cost of living, and we're in an HCOL city). I do not fully understand the economics of higher education—they're complex and often opaque—but a few things…
I disagree with most financial aid and admissions offices, who seem to regard loans as "aid"