I don't worry about students being able to afford things. Kids will spend ridiculous amounts on the right "brands", whether shoes, tees, electronics, whatever. And there's always ways to make extra money.
Every now and then I have to accompany my wife to the Pitt campus bookstore. Blows the co-op away. You can get all sorts of crap from any era - royal blue and yellow, navy and gold, script Pitt or block PITT... and at competitive prices.
Sounds to me like management is missing the forest for the trees.