The tax base and the number of higher education instructors may indeed have tripled. I'd have to check. But that would only be enough if you were going to teach the same fraction as went to college in 1960. What was that, 10 or 15%?
So we'd need something like a x30 increase in teachers. And even more in tax base (since we're building more campuses or enlarging the existing, not merely funding the existing ones).