Yes, but how large is that increase per student.

In 2011 21.0 million people where going to an undergraduate degree, in 1970 that was just 7.3 million. So from 1970 to now ~2.7 times as many people are getting an undergraduate degree. They are using some nebuslus 1960's number and inflation increased 7.93x from 1960 to now. 7.93 x ~3 = 23.79 x increase would have kept up per student.

Or roughly the government is spending less than 1/2 as much per student after adjusting for inflation. http://data.bls.gov/cgi-bin/cpicalc.pl?cost1=1&year1=1960&ye...

Yes this amorphous group of "administrators". Wonder why no article ever mentions the actual job titles/functions of these administrators? I suspect they are largely athletics-related, and by not providing details the authors can rely on readers to assume that these "administrators" are instead useless bureaucrats.