HIGHER EDUCATION BUBBLE UPDATE: Thomas Lifson: Higher Education At The Precipice.

An entirely predictable cataclysm awaits the American higher education sector. Having jacked up their prices at roughly triple the rate of inflation for at least 5 decades, college education is no longer affordable without crippling debt for all but the richest families. The sole justification for spending a quarter of a million dollars on a child’s education at a full-price private school is that a prestige degree is the gateway to upper middle class work status.

Yet in tandem with higher education’s putative lock-grip on career prospects has come an intellectual death spiral into ideology and irrelevance. Baristas with prestigious baccalaureate degrees are now a cliché; but the underlying fact is that a bachelor’s degree in grievance studies (most of the humanities and social sciences are now little but propaganda on the evil of America) does not equip one for useful work.

All of these facts are well known, but have yet to influence a significant-enough segment of the market, with a few exceptions.

If only someone had issued a warning.