Forbes editor William "Bill" Baldwin was a featured guest on the November 8, 2007 edition of CBS News' The Early Show.  Baldwin discussed the high cost of college tuition.

Baldwin, who is a 1973 graduate of Harvard University, said that when his parents paid for his tuition, it was $2,000 a year.  According to the editor, it is now $31,000 a year, a nearly 16-fold increase.  Baldwin said that the cost of living has risen less than 7% during the same period.

Baldwin said U.S. colleges and universities can often get away with charging whatever they want, in part, because they don't have to compete on a global basis.  "What are you going to do?" he asked.

He also said that with the government providing so much financial aid to institutions of higher education, there is less incentive for colleges to keep their costs in check.