Is college worth the money?

A commentary in the Chronicle of Higher Education raises the possibility that college may be the next bubble to burst:

Consumers who have questioned whether it is worth spending $1,000 a square foot for a home are now asking whether it is worth spending $1,000 a week to send their kids to college. There is a growing sense among the public that higher education might be overpriced and under-delivering.

In such a climate, it is not surprising that applications to some community colleges and other public institutions have risen by as much as 40 percent. Those institutions, particularly community colleges, will become a more-attractive option for a larger swath of the collegebound. Taking the first two years of college while living at home has been an attractive option since the 1920s, but it is now poised to grow significantly.

College enrollment, it says, crested this year and will be declining over the next few years. Some colleges are competing for fewer students by freezing tuitions.

(h/t: Andrew Sullivan)

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