HIGHER EDUCATION BUBBLE UPDATE: Tuitions Being Slashed:

Small- and medium-sized private universities have been slashing tuition for all students in an effort to reverse sliding enrollment numbers. And while these schools are not as prestigious as Stanford, their willingness to cut prices could signal a shift in the cost of higher education.

Nearly a dozen private colleges reduced tuition for the current academic year. Southern Virginia University, for instance, cut tuition and fees 23 percent from $18,900 to $14,600 a year, while Converse College in South Carolina brought down its prices by 43 percent to $16,500 a year.

All is proceeding as I have foreseen.