The college bubble

JW Pope Center:

Over the last decade, professors and pundits have begun to notice a change in higher education. They have bemoaned falling academic standards, uninterested students, and a campus culture of partying instead of learning. On top of these concerns, parents, students, and taxpayers face mounting college costs.
All these problems are symptoms of  a “college bubble.” Like the nation’s housing bubble, which eventually burst, the college bubble is caused by a number of factors. But the biggest force is, as my colleague George Leef has often pointed out, the overselling of higher education. The housing bubble was created, at least in part, by the conviction that everyone ought to own a home; the college bubble is occurring because so many people believe that everyone ought to attend college.