Some analysis I was reading suggested that the biggest driver in the increasing cost in universities was caused by the proliferation of different majors and classes (basically, these additional classes drove down the student/teacher ratio, even while most core classes remained full).

By offering niche degrees, modern universities are screwing over students in two ways:

- adding to their costs in the present

- narrowing the range of career opportunities in the future

By focusing on only the most useful degrees, a university could very easily compete on price and expected value.