Thoughts on Politics, Culture, Books, Sports and Anything Else Your Humble Author Happens to Think Is Interesting
"It profits me but little that a vigilant authority always protects the tranquillity of my pleasures and constantly averts all dangers from my path, without my care or concern, if this same authority is the absolute master of my liberty and my life."
--Alexis de Tocqueville, Democracy in America
Monday, February 28, 2011
Why the Higher Education Bubble Must Burst (Cliff's Notes Version)
Here, from Business Insider, is a pithy, "Cliff's Notes" summary of why the bubble in college education is going to burst soon (and very soon):
If you had to sum up the education bubble in one misconception, it might be: “The average 22-year-old is a good credit risk for $150,000 in debt, collateralized by something completely intangible.”
Oh, by the way, the Business Insider article is all about how to make money off the bubble bursting by short-selling stocks in for-profit colleges (Kaplan, DeVry, etc.) and student loan companies. Scary.