ELI5 Why does college tuition increase every year?

In the state I live in, 2 pretty major state universities just approved 10% tuition hikes. According to collegeboard.org over the past 5 years, average tuition at public universities has risen by a similar metric. Is it a matter of chronic underfunding at the state/federal level? What gives?

Submitted April 29, 2017 at 08:22PM by OrganicDanceMachine http://ift.tt/2ptr4dz