Kevin Carey doesn't think so:
College won’t kick the habit of raising prices until the things they care about—money and reputation—are seriously threatened by competitors. Therefore, federal policymakers should help create those competitors by helping establish many brand-new colleges and universities.
Along the same lines, The Daily calculated the cost of college for a baby born today should "college costs keep rising as they have for the last three decades":
The Daily analyzed historical, inflation-adjusted price data from the College Board to see what a bachelor’s degree might cost the class of 2034 in 2011 dollars. The result: Total tuition and fees would top $232,000 for an average-priced four-year private college and nearly $81,000 at an average-priced public university — up 111 percent and 167 percent, respectively, from the average class of 2012 tuition.
(Chart from a Moody's report (pdf))