But where does the money go? Not to faculty salaries.
Not to salaries in the Liberal Arts, anyway. A quote:
In general, the parental costs of college are spiraling upward, but the increases are largely not going into the pocket of the full-time faculty member. We drive a Honda Accord and a VW Jetta, respectively, and most of my colleagues drive similar cars.
The BMWs, the Lexuses, the Infinitis, and the sports cars belong to the students, at least those whose high-end parents most typically bemoan the costs of sending their students to us.
BMWs in college? That's lame. I sent all of my kids to college with Ferraris, didn't you? For their self-esteem.