Glenn Harlan Reynolds, University of Tennessee law professor, believes college has become, for many, merely a “status marker” signaling membership in the educated caste, and a place to meet spouses of similar status — “associative mating.” In his Encounter Books Broadside “The Higher Education Bubble,” Reynolds says this bubble exists for the same reasons the housing bubble did. The government decided that too few people owned homes/went to college, so government money was poured into subsidized and sometimes subprime mortgages/-student loans, with the predictable result that housing prices/-college tuitions soared and many borrowers went bust. Tuitions and fees have risen more than 440 percent in 30 years as schools happily raised prices — and lowered standards — to siphon up federal money.
http://www.bostonherald.com/news/opinion/op_ed/view/20220610higher_education_bubble_is_about_to_burst/
