HIGHER EDUCATION BUBBLE UPDATE: 10 Reasons To Skip The Expensive Colleges.

Dreifus, a New York Times writer and an adjunct professor at Columbia University School of International and Public Affairs, and Hacker, a veteran political science professor at Queens College in New York, spent three years interviewing faculty, students, and administrators and crunching statistics for their book, Higher Education? How Colleges Are Wasting Our Money and Failing Our Kids — And What We Can Do About It. Their finding? That many of America’s colleges and universities — especially the elite — aren’t worth their tuition and serve faculty over their undergrads.

More outrageous, they say, is that tuition nationwide has jumped at more than twice the rate of inflation since 1982, so many kids graduate deeply in debt. “Tuition is probably the second-largest item you’ll buy in your lifetime, after your home,” Dreifus says. Given that, the authors suggest you consider the following as you bear down on the decision of where your child will spend the next four (or more) years.

Well, if the story has reached Reader’s Digest, I think it’s fair to say it’s gone fully mainstream.