The high cost of academics living like the one percent
They have been covering this high life by pushing unaffordable loans on unsophisticated borrowers. The academic left is made up of a large group of predatory lenders on students who may never be able to repay and many of which will not be able to get jobs in their field of study. That is why you have PhD's driving taxis in some cities and people with Masters Degrees waiting tables. They are having to postpone setting up a household, and buying cars and other items because they are paying too much for a degree.