It's not mismanagement, its basically competition for students by increasing features the only way you can: by lower faculty/student ratio (higher more teachers, not always better), and making the facilities as nice and new as possible. The next problem driving up costs, is that states have lowered funding for higher ed since the great recession, since schools can raise tuition to cover the gap. Overall, it's all these problems combined, plus some demographic on coming demographic shifts, that are driving up the cost of higher ed. It's definitely not mismanagement!