Well, one of the smartest guys around, Jake Novak, the excellent columnist, broadcast expert, producer, and one of our favorite guests.

Jake Novak, how you doing?

I'm doing better after that intro.

Thank you so much.

Very generous of you.

Hey, we were talking about this before.

When you send your kid to college, it's not $5,000.

It's like $50,000, $60,000. Or when you pay $40,000 a year to kid to college it's not five thousand dollars it's like 50,000 60

or when you pay 40,000 a year to go to college I don't know what the hell they need all that

money for then for the rest of your life they ask you for donations like that wasn't enough

what how is college so expensive well you know the the whole country right now is talking

about inflation and that's good because

it's happening. People should talk about it and be more informed about it. But well before this

inflation spike, we had an inflation spike that started in college tuition. College tuition

was relatively inexpensive until the 1970s, and really, I would say the late 1970.

And there are a lot of reasons for it, but the biggest reason is that the elite schools who set the tone for everybody else figured out, and this sounds strange, they make more money,

the elite schools make more money and protect something that I'll discuss in a second.

They make more money, the more unaffordable their in a second, they make more money the more

unaffordable their tuition is. It sounds crazy. If you were running a business and you were charging

something that more than half of your customers couldn't afford, that would sound like a bad

idea. But for colleges and universities, it's very, very smart. And the reason is very simple.

The big, big moneymaker, especially for the elite

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