Is there a college bubble?Posted on Thu, 10/20/2011 - 21:54
In a poker tournament, the "bubble" is the point in the tournament at which the next player out will not win any money. Merriam-Webster defines a bubble as "something that lacks firmness, solidity, or reality." Richard Vedder of The Independent Institute and Andrew Gillen of the Center for College Affordability and Productivity, note the "defining characteristic of a bubble is unsustainable growth that eventually reverses." In Cost Versus Enrollment, a provocative -- but seriously wonk-ish, you've been warned! -- article, Vedder and Gillen examine whether there is a higher education bubble -- with an in-depth look at cost, outcomes, the benefits of a degree, and whether so many students should be attending college.
The bottom line: a saner future most likely awaits applicants and their families!