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The College Amenities Arms Race

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A free movie theater. A 25 person hot tub and spa with a lazy river and whirlpool. A leisure pool with biometric hand scanners for secure entry. A 50 foot climbing wall to make exercise interesting. And a top-of-the-line steak restaurant with free five course meals.

This isn’t a list of items from a resort brochure. They’re facilities you can find on a college campus. And with college construction costs rising, it could be the best four-year getaway you've ever had.

In 1995, American colleges spent a total of $6.1 billion annually on construction projects, according to a study by College Planning and Management. It peaked at $15 billion in 2006. Spending dipped after the recession, but costs have been on the rise—culminating in $10.9 billion in 2013.

Some of this construction has been necessary. College enrollment of 18 to 24-year-olds has increased by 3.1 million from 2001 to 2011, according to the National Center for Education Statistics. More students mean more dorms and more classrooms. And 20% of construction costs go towards upgrading older buildings.

“What’s happening is you’ve got an influx of students, for better or for worse,” says Paul Abramson, who conducts the college construction cost study . “They’re used to a much higher standard of living than we were when we entered college. You have bowling alleys, swimming pools. There are some where the pool is in the residence or in the student union.”

With student loan debt topping $1.2 trillion and average tuition approaching $41,000 a year, building a $70 million rec center could seem frivolous. School is a place to learn, after all.

But the economic reality is more complex. In “Country Club as College,” a paper published last year, University of Michigan researchers examined college financial consumption against enrollment.

“We found that the lower ability students and higher income students have a greater willingness to pay for these amenities,” says Brian Jacob, a researcher from the University of Michigan. “The more academic, high achieving students cared about intellectual achievement.”

In other words? Harvard University might not spend approximately $700 million to renovate their campus, but High Point University would. Under the leadership of President Nido Qubein, High Point's campus has grown into a collegiate theme park, complete with plasma televisions in dorm rooms, a free movie theater, and steak restaurant.  And their five-star, country club accommodations have made the percent admitted decline from 86.1% in 2002 to 64.2% in 2012.

For less selective schools,  perhaps putting money into luxurious amenities- instead of academics-is the smarter business decision.

The University of Iowa has an estimated $53 million campus recreation center, complete with an 18 foot diving well, bubble benches, and lazy river. Texas Tech University has a veritable water park in their backyard. California State University, Fullerton has a 30 foot rock wall. And California State University, Long Beach has a $70 million wellness center with hand scanners for secure entry.

“It’s kind of smart from the college’s perspective,” says Jacob. “In that sense, it’s a good business move.”

Check out some of our favorite resort-like college facilities below: