Beneath the scandals of privileged monied people getting their children into colleges lies the problem of the continuing rising costs of education. It’s a huge problem for poorer students to get a higher education. Rising education costs are certainly not because colleges are hiring a more expensive faculty, they have been and are using more undergrads to teach at lower pay.
Most of the increases to tuition have been due to increased pay to the upper echelons of administration. Until state schools control those costs and set an example and competition for private schools, poorer students won’t make the grade. The cost of administration should certainly not exceed that of faculty and probably be should be much less.
Power within the schools is determined by who controls the money and it’s not the faculty.
A well-paid faculty teacher is only justified if they can attract student tuition. Once they have attained that status they probably feel they have earned it and have lost interested in rocking the boat.
Until the faculties become unionized school will continue to degrade.