HIGHER EDUCATION BUBBLE UPDATE: Private colleges across America can’t pay their bills. “There’s a reckoning coming in higher education — especially for smaller, private liberal arts schools — that’s been years in the making. In obvious ways, COVID-19 accelerated some of the trends, but college finances have been hurting for a while. . . . Colleges can’t file for Chapter 11 bankruptcy the way insolvent companies can because they would lose their accreditation and student access to federal loans.”

Plus: “Students don’t usually evaluate a school’s wherewithal to pay its bills when choosing a college — but they’re the ones who stand to lose the most from closures. The earlier schools deal with their problems, the more likely they’ll be able to provide a smooth path for students to finish their degrees.”

All is proceeding as I have foreseen.