Back to School?

Roger Simon, author of a critique of higher education called “Tenured Radicals” has a post about the upcoming burst of the higher education bubble.  Four years at America’s so-called “top colleges” (Harvard, Yale & Princeton) now cost over $200,000 in tuition alone.  Add room, board, books and incidentals and the total for four years at these schools is $250,000 – $300,000.  How is it possible that schools can charge such high tuition and why are there suckers parents and students willing to pay such outrageous amounts?

“the housing bubble resulted from about a 4-time increase in home prices between 1978 and 2006, and college tuition has now increased by more than twice that amount since 1978 —  it’s gone up by more than a factor of ten times.”

See also Michael Baron’s story in the Washington Examiner called “Higher education bubble poised to burst.”