From n+1: Harris’s punch line: “[H]igher education, for-profit or not, has increasingly become a scam.” To review:

1. “Since 1978, the price of tuition at US colleges has increased over 900 percent, 650 points above inflation.”
2. And how have students paid for ever rising tuition? By taking out loans, federally back and hence low risk. Harris’s prediction: Here comes the education bubble!
3. Lots of goodies going to burgeoning administrative class. Not many going to shrinking tenured class. Hurray for the corporate university!
4. We’ve got rising student debt coupled with draconian bankruptcy policy. Sorry, son, once you default, you’re not offloading your debt.

The lessons I take from this? Don’t go into higher ed, and start looking seriously at alternative forms of education.