HIGHER EDUCATION BUBBLE UPDATE:

Cinder block dorms and Drake’s Cakes from vending machines? Not anymore.

Experts also blame bloated administrative staffs and skyrocketing professor salaries for why college costs are up 1,000 percent in 30 years. The admittedly rarefied Harvard Law School, which hires famous lawyers to teach, paid Warren $350,000 a year. So yes, it’s swell that Warren’s concerned about interest rates for those who won’t make $350,000 in 10 years.

But the real problem is the “hammered” middle class, good interest rate or bad, can’t afford college, period. And college now is the surest prerequisite for affording the rest of your life.

So if Elizabeth Warren wants to cast herself as a warrior for that “hammered” middle class, then she needs to go at the people who are really hammering them.

And that’s her old pals back in academia.

The problem is, the value isn’t there to justify the increased costs.