HIGHER EDUCATION BUBBLE UPDATE: When The Economy Is Bad, Debt Is Worse. “One of the best arguments for the existence of a higher education bubble is simply the massive increase in debt, accompanied by a run-up in prices. This is, of course, particularly worrying in a down market, when students are burdened by debt that has become a lot harder to pay. And especially so in this economy, when the students who entered graduate school in order to ‘ride out the recession’ are emerging on the other side to find that unemployment is still over 8%.”

Well, a lot of ’em voted for “change.” This is the change.