As a sucker that went to an over-priced liberal arts college, I can say it was both worth it and a rip-off. Worth it in the sense that it was priceless, a rip off in the sense that almost all private schools haven't had to seriously figure out how to cut costs and reduce tuition in well over a decade. There's a lot of fat, especially considering that most of the newer expenditures are designed for marketing: new dorms, fancy looking infrastructure, diverse major offerings, etc. Hopefully, students will start looking about the "education" you get instead of the pricey accessories, and hopefully these schools will learn how to trim the fat.