Waste on ever growing administration overhead and top tier administration salary combined with prestige construction unrelated to academic or research success.

Fueled by cheap loans difficult to discharge in bankruptcy, a cultural idea that everybody needs a degree to be a worthwhile person, and a glut of degree-bearing people competing for lower and lower tier jobs.

Because the truth is that modern college is simply not efficient and I would even say is against adopting new technologies due to teacher unions.

I want wikipedia university! Too bad their side project into that (wikiversity) is a failure.