Friday, November 22, 2013

From Housing Bubble to....

Respected Economist Says Higher Ed Bubble Starting To Burst: "Loosely defined, the higher education bubble refers to the unsustainable combination of several factors all coalescing at once: the rising cost of tuition; the growing irrelevancy of a liberal arts degree; ballooning student loan debt; and skyrocketing unemployment for college grads.
Vedder said the bubble is already starting to burst, as evidenced by the fact that school admissions are down precipitously from last year, pressuring an already bloated system."
The amazing thing about inflation in higher education is that what college professors do has not changed. While doctors can cure diseases that were untreatable just a generation ago, professors have not increase in quality or value they can use to justify their increase in prices even though higher education has increased in cost even faster than has medicine.

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