Why college costs so much

As families across Michigan scramble to fill out federal college student aid forms by a March 1 deadline, here are the facts: A college degree costs more than double what it did a generation ago, even after taking inflation into account. It takes a much bigger share of your paycheck. It costs even more because you live in Michigan than most other states. Moreover, costs are rising faster for the poor than for the rich, and student debt has ballooned 56 percent just since 2005.