CINXE.COM

<!DOCTYPE html> <html class="client-nojs vector-feature-language-in-header-enabled vector-feature-language-in-main-page-header-disabled vector-feature-sticky-header-disabled vector-feature-page-tools-pinned-disabled vector-feature-toc-pinned-clientpref-1 vector-feature-main-menu-pinned-disabled vector-feature-limited-width-clientpref-1 vector-feature-limited-width-content-enabled vector-feature-custom-font-size-clientpref-1 vector-feature-appearance-pinned-clientpref-1 vector-feature-night-mode-enabled skin-theme-clientpref-day vector-toc-available" lang="en" dir="ltr"> <head> <meta charset="UTF-8"> <title>Higher education bubble in the United States - Wikipedia</title> <script>(function(){var className="client-js vector-feature-language-in-header-enabled vector-feature-language-in-main-page-header-disabled vector-feature-sticky-header-disabled vector-feature-page-tools-pinned-disabled vector-feature-toc-pinned-clientpref-1 vector-feature-main-menu-pinned-disabled vector-feature-limited-width-clientpref-1 vector-feature-limited-width-content-enabled vector-feature-custom-font-size-clientpref-1 vector-feature-appearance-pinned-clientpref-1 vector-feature-night-mode-enabled skin-theme-clientpref-day vector-toc-available";var cookie=document.cookie.match(/(?:^|; )enwikimwclientpreferences=([^;]+)/);if(cookie){cookie[1].split('%2C').forEach(function(pref){className=className.replace(new RegExp('(^| )'+pref.replace(/-clientpref-\w+$|[^\w-]+/g,'')+'-clientpref-\\w+( |$)'),'$1'+pref+'$2');});}document.documentElement.className=className;}());RLCONF={"wgBreakFrames":false,"wgSeparatorTransformTable":["",""],"wgDigitTransformTable":["",""],"wgDefaultDateFormat":"dmy", "wgMonthNames":["","January","February","March","April","May","June","July","August","September","October","November","December"],"wgRequestId":"05dc35b7-14a6-4f10-a420-1a555788a46e","wgCanonicalNamespace":"","wgCanonicalSpecialPageName":false,"wgNamespaceNumber":0,"wgPageName":"Higher_education_bubble_in_the_United_States","wgTitle":"Higher education bubble in the United States","wgCurRevisionId":1258966953,"wgRevisionId":1258966953,"wgArticleId":28275514,"wgIsArticle":true,"wgIsRedirect":false,"wgAction":"view","wgUserName":null,"wgUserGroups":["*"],"wgCategories":["Webarchive template wayback links","Use American English from May 2023","All Wikipedia articles written in American English","Use mdy dates from May 2023","Articles with short description","Short description is different from Wikidata","Universities and colleges in the United States","Education finance in the United States","Higher education in the United States","Education economics","Economic bubbles", "Education controversies in the United States"],"wgPageViewLanguage":"en","wgPageContentLanguage":"en","wgPageContentModel":"wikitext","wgRelevantPageName":"Higher_education_bubble_in_the_United_States","wgRelevantArticleId":28275514,"wgIsProbablyEditable":true,"wgRelevantPageIsProbablyEditable":true,"wgRestrictionEdit":[],"wgRestrictionMove":[],"wgNoticeProject":"wikipedia","wgCiteReferencePreviewsActive":false,"wgFlaggedRevsParams":{"tags":{"status":{"levels":1}}},"wgMediaViewerOnClick":true,"wgMediaViewerEnabledByDefault":true,"wgPopupsFlags":0,"wgVisualEditor":{"pageLanguageCode":"en","pageLanguageDir":"ltr","pageVariantFallbacks":"en"},"wgMFDisplayWikibaseDescriptions":{"search":true,"watchlist":true,"tagline":false,"nearby":true},"wgWMESchemaEditAttemptStepOversample":false,"wgWMEPageLength":80000,"wgRelatedArticlesCompat":[],"wgCentralAuthMobileDomain":false,"wgEditSubmitButtonLabelPublish":true,"wgULSPosition":"interlanguage","wgULSisCompactLinksEnabled":false, "wgVector2022LanguageInHeader":true,"wgULSisLanguageSelectorEmpty":false,"wgWikibaseItemId":"Q5758325","wgCheckUserClientHintsHeadersJsApi":["brands","architecture","bitness","fullVersionList","mobile","model","platform","platformVersion"],"GEHomepageSuggestedEditsEnableTopics":true,"wgGETopicsMatchModeEnabled":false,"wgGEStructuredTaskRejectionReasonTextInputEnabled":false,"wgGELevelingUpEnabledForUser":false};RLSTATE={"ext.globalCssJs.user.styles":"ready","site.styles":"ready","user.styles":"ready","ext.globalCssJs.user":"ready","user":"ready","user.options":"loading","ext.cite.styles":"ready","skins.vector.search.codex.styles":"ready","skins.vector.styles":"ready","skins.vector.icons":"ready","jquery.makeCollapsible.styles":"ready","ext.wikimediamessages.styles":"ready","ext.visualEditor.desktopArticleTarget.noscript":"ready","ext.uls.interlanguage":"ready","wikibase.client.init":"ready","ext.wikimediaBadges":"ready"};RLPAGEMODULES=["ext.cite.ux-enhancements","mediawiki.page.media", "ext.scribunto.logs","site","mediawiki.page.ready","jquery.makeCollapsible","mediawiki.toc","skins.vector.js","ext.centralNotice.geoIP","ext.centralNotice.startUp","ext.gadget.ReferenceTooltips","ext.gadget.switcher","ext.urlShortener.toolbar","ext.centralauth.centralautologin","mmv.bootstrap","ext.popups","ext.visualEditor.desktopArticleTarget.init","ext.visualEditor.targetLoader","ext.echo.centralauth","ext.eventLogging","ext.wikimediaEvents","ext.navigationTiming","ext.uls.interface","ext.cx.eventlogging.campaigns","ext.cx.uls.quick.actions","wikibase.client.vector-2022","ext.checkUser.clientHints","ext.growthExperiments.SuggestedEditSession","wikibase.sidebar.tracking"];</script> <script>(RLQ=window.RLQ||[]).push(function(){mw.loader.impl(function(){return["user.options@12s5i",function($,jQuery,require,module){mw.user.tokens.set({"patrolToken":"+\\","watchToken":"+\\","csrfToken":"+\\"}); }];});});</script> <link rel="stylesheet" href="/w/load.php?lang=en&modules=ext.cite.styles%7Cext.uls.interlanguage%7Cext.visualEditor.desktopArticleTarget.noscript%7Cext.wikimediaBadges%7Cext.wikimediamessages.styles%7Cjquery.makeCollapsible.styles%7Cskins.vector.icons%2Cstyles%7Cskins.vector.search.codex.styles%7Cwikibase.client.init&only=styles&skin=vector-2022"> <script async="" src="/w/load.php?lang=en&modules=startup&only=scripts&raw=1&skin=vector-2022"></script> <meta name="ResourceLoaderDynamicStyles" content=""> <link rel="stylesheet" href="/w/load.php?lang=en&modules=site.styles&only=styles&skin=vector-2022"> <meta name="generator" content="MediaWiki 1.44.0-wmf.4"> <meta name="referrer" content="origin"> <meta name="referrer" content="origin-when-cross-origin"> <meta name="robots" content="max-image-preview:standard"> <meta name="format-detection" content="telephone=no"> <meta property="og:image" content="https://upload.wikimedia.org/wikipedia/commons/thumb/c/c0/Tuition_cost_of_college.png/1200px-Tuition_cost_of_college.png"> <meta property="og:image:width" content="1200"> <meta property="og:image:height" content="907"> <meta property="og:image" content="https://upload.wikimedia.org/wikipedia/commons/thumb/c/c0/Tuition_cost_of_college.png/800px-Tuition_cost_of_college.png"> <meta property="og:image:width" content="800"> <meta property="og:image:height" content="605"> <meta property="og:image" content="https://upload.wikimedia.org/wikipedia/commons/thumb/c/c0/Tuition_cost_of_college.png/640px-Tuition_cost_of_college.png"> <meta property="og:image:width" content="640"> <meta property="og:image:height" content="484"> <meta name="viewport" content="width=1120"> <meta property="og:title" content="Higher education bubble in the United States - Wikipedia"> <meta property="og:type" content="website"> <link rel="preconnect" href="//upload.wikimedia.org"> <link rel="alternate" media="only screen and (max-width: 640px)" href="//en.m.wikipedia.org/wiki/Higher_education_bubble_in_the_United_States"> <link rel="alternate" type="application/x-wiki" title="Edit this page" href="/w/index.php?title=Higher_education_bubble_in_the_United_States&action=edit"> <link rel="apple-touch-icon" href="/static/apple-touch/wikipedia.png"> <link rel="icon" href="/static/favicon/wikipedia.ico"> <link rel="search" type="application/opensearchdescription+xml" href="/w/rest.php/v1/search" title="Wikipedia (en)"> <link rel="EditURI" type="application/rsd+xml" href="//en.wikipedia.org/w/api.php?action=rsd"> <link rel="canonical" href="https://en.wikipedia.org/wiki/Higher_education_bubble_in_the_United_States"> <link rel="license" href="https://creativecommons.org/licenses/by-sa/4.0/deed.en"> <link rel="alternate" type="application/atom+xml" title="Wikipedia Atom feed" href="/w/index.php?title=Special:RecentChanges&feed=atom"> <link rel="dns-prefetch" href="//meta.wikimedia.org" /> <link rel="dns-prefetch" href="//login.wikimedia.org"> </head> <body class="skin--responsive skin-vector skin-vector-search-vue mediawiki ltr sitedir-ltr mw-hide-empty-elt ns-0 ns-subject mw-editable page-Higher_education_bubble_in_the_United_States rootpage-Higher_education_bubble_in_the_United_States skin-vector-2022 action-view"><a class="mw-jump-link" href="#bodyContent">Jump to content</a> <div class="vector-header-container"> <header class="vector-header mw-header"> <div class="vector-header-start"> <nav class="vector-main-menu-landmark" aria-label="Site"> <div id="vector-main-menu-dropdown" class="vector-dropdown vector-main-menu-dropdown vector-button-flush-left vector-button-flush-right" > <input type="checkbox" id="vector-main-menu-dropdown-checkbox" role="button" aria-haspopup="true" data-event-name="ui.dropdown-vector-main-menu-dropdown" class="vector-dropdown-checkbox " aria-label="Main menu" > <label id="vector-main-menu-dropdown-label" for="vector-main-menu-dropdown-checkbox" class="vector-dropdown-label cdx-button cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--weight-quiet cdx-button--icon-only " aria-hidden="true" > Main menu </label> <div class="vector-dropdown-content"> <div id="vector-main-menu-unpinned-container" class="vector-unpinned-container"> <div id="vector-main-menu" class="vector-main-menu vector-pinnable-element"> <div class="vector-pinnable-header vector-main-menu-pinnable-header vector-pinnable-header-unpinned" data-feature-name="main-menu-pinned" data-pinnable-element-id="vector-main-menu" data-pinned-container-id="vector-main-menu-pinned-container" data-unpinned-container-id="vector-main-menu-unpinned-container" > <div class="vector-pinnable-header-label">Main menu</div> <button class="vector-pinnable-header-toggle-button vector-pinnable-header-pin-button" data-event-name="pinnable-header.vector-main-menu.pin">move to sidebar</button> <button class="vector-pinnable-header-toggle-button vector-pinnable-header-unpin-button" data-event-name="pinnable-header.vector-main-menu.unpin">hide</button> </div> <div id="p-navigation" class="vector-menu mw-portlet mw-portlet-navigation" > <div class="vector-menu-heading"> Navigation </div> <div class="vector-menu-content"> <ul class="vector-menu-content-list"> <li id="n-mainpage-description" class="mw-list-item"><a href="/wiki/Main_Page" title="Visit the main page [z]" accesskey="z">Main page</a></li><li id="n-contents" class="mw-list-item"><a href="/wiki/Wikipedia:Contents" title="Guides to browsing Wikipedia">Contents</a></li><li id="n-currentevents" class="mw-list-item"><a href="/wiki/Portal:Current_events" title="Articles related to current events">Current events</a></li><li id="n-randompage" class="mw-list-item"><a href="/wiki/Special:Random" title="Visit a randomly selected article [x]" accesskey="x">Random article</a></li><li id="n-aboutsite" class="mw-list-item"><a href="/wiki/Wikipedia:About" title="Learn about Wikipedia and how it works">About Wikipedia</a></li><li id="n-contactpage" class="mw-list-item"><a href="//en.wikipedia.org/wiki/Wikipedia:Contact_us" title="How to contact Wikipedia">Contact us</a></li> </ul> </div> </div> <div id="p-interaction" class="vector-menu mw-portlet mw-portlet-interaction" > <div class="vector-menu-heading"> Contribute </div> <div class="vector-menu-content"> <ul class="vector-menu-content-list"> <li id="n-help" class="mw-list-item"><a href="/wiki/Help:Contents" title="Guidance on how to use and edit Wikipedia">Help</a></li><li id="n-introduction" class="mw-list-item"><a href="/wiki/Help:Introduction" title="Learn how to edit Wikipedia">Learn to edit</a></li><li id="n-portal" class="mw-list-item"><a href="/wiki/Wikipedia:Community_portal" title="The hub for editors">Community portal</a></li><li id="n-recentchanges" class="mw-list-item"><a href="/wiki/Special:RecentChanges" title="A list of recent changes to Wikipedia [r]" accesskey="r">Recent changes</a></li><li id="n-upload" class="mw-list-item"><a href="/wiki/Wikipedia:File_upload_wizard" title="Add images or other media for use on Wikipedia">Upload file</a></li> </ul> </div> </div> </div> </div> </div> </div> </nav> <a href="/wiki/Main_Page" class="mw-logo"> <img class="mw-logo-icon" src="/static/images/icons/wikipedia.png" alt="" aria-hidden="true" height="50" width="50"> <img class="mw-logo-wordmark" alt="Wikipedia" src="/static/images/mobile/copyright/wikipedia-wordmark-en.svg" style="width: 7.5em; height: 1.125em;"> <img class="mw-logo-tagline" alt="The Free Encyclopedia" src="/static/images/mobile/copyright/wikipedia-tagline-en.svg" width="117" height="13" style="width: 7.3125em; height: 0.8125em;"> </a> </div> <div class="vector-header-end"> <div id="p-search" role="search" class="vector-search-box-vue vector-search-box-collapses vector-search-box-show-thumbnail vector-search-box-auto-expand-width vector-search-box"> <a href="/wiki/Special:Search" class="cdx-button cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--weight-quiet cdx-button--icon-only search-toggle" title="Search Wikipedia [f]" accesskey="f"> Search </a> <div class="vector-typeahead-search-container"> <div class="cdx-typeahead-search cdx-typeahead-search--show-thumbnail cdx-typeahead-search--auto-expand-width"> <form action="/w/index.php" id="searchform" class="cdx-search-input cdx-search-input--has-end-button"> <div id="simpleSearch" class="cdx-search-input__input-wrapper" data-search-loc="header-moved"> <div class="cdx-text-input cdx-text-input--has-start-icon"> <input class="cdx-text-input__input" type="search" name="search" placeholder="Search Wikipedia" aria-label="Search Wikipedia" autocapitalize="sentences" title="Search Wikipedia [f]" accesskey="f" id="searchInput" > </div> <input type="hidden" name="title" value="Special:Search"> </div> <button class="cdx-button cdx-search-input__end-button">Search</button> </form> </div> </div> </div> <nav class="vector-user-links vector-user-links-wide" aria-label="Personal tools"> <div class="vector-user-links-main"> <div id="p-vector-user-menu-preferences" class="vector-menu mw-portlet emptyPortlet" > <div class="vector-menu-content"> <ul class="vector-menu-content-list"> </ul> </div> </div> <div id="p-vector-user-menu-userpage" class="vector-menu mw-portlet emptyPortlet" > <div class="vector-menu-content"> <ul class="vector-menu-content-list"> </ul> </div> </div> <nav class="vector-appearance-landmark" aria-label="Appearance"> <div id="vector-appearance-dropdown" class="vector-dropdown " title="Change the appearance of the page's font size, width, and color" > <input type="checkbox" id="vector-appearance-dropdown-checkbox" role="button" aria-haspopup="true" data-event-name="ui.dropdown-vector-appearance-dropdown" class="vector-dropdown-checkbox " aria-label="Appearance" > <label id="vector-appearance-dropdown-label" for="vector-appearance-dropdown-checkbox" class="vector-dropdown-label cdx-button cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--weight-quiet cdx-button--icon-only " aria-hidden="true" > Appearance </label> <div class="vector-dropdown-content"> <div id="vector-appearance-unpinned-container" class="vector-unpinned-container"> </div> </div> </div> </nav> <div id="p-vector-user-menu-notifications" class="vector-menu mw-portlet emptyPortlet" > <div class="vector-menu-content"> <ul class="vector-menu-content-list"> </ul> </div> </div> <div id="p-vector-user-menu-overflow" class="vector-menu mw-portlet" > <div class="vector-menu-content"> <ul class="vector-menu-content-list"> <li id="pt-sitesupport-2" class="user-links-collapsible-item mw-list-item user-links-collapsible-item"><a data-mw="interface" href="https://donate.wikimedia.org/wiki/Special:FundraiserRedirector?utm_source=donate&utm_medium=sidebar&utm_campaign=C13_en.wikipedia.org&uselang=en" class="">Donate</a> </li> <li id="pt-createaccount-2" class="user-links-collapsible-item mw-list-item user-links-collapsible-item"><a data-mw="interface" href="/w/index.php?title=Special:CreateAccount&returnto=Higher+education+bubble+in+the+United+States" title="You are encouraged to create an account and log in; however, it is not mandatory" class="">Create account</a> </li> <li id="pt-login-2" class="user-links-collapsible-item mw-list-item user-links-collapsible-item"><a data-mw="interface" href="/w/index.php?title=Special:UserLogin&returnto=Higher+education+bubble+in+the+United+States" title="You're encouraged to log in; however, it's not mandatory. [o]" accesskey="o" class="">Log in</a> </li> </ul> </div> </div> </div> <div id="vector-user-links-dropdown" class="vector-dropdown vector-user-menu vector-button-flush-right vector-user-menu-logged-out" title="Log in and more options" > <input type="checkbox" id="vector-user-links-dropdown-checkbox" role="button" aria-haspopup="true" data-event-name="ui.dropdown-vector-user-links-dropdown" class="vector-dropdown-checkbox " aria-label="Personal tools" > <label id="vector-user-links-dropdown-label" for="vector-user-links-dropdown-checkbox" class="vector-dropdown-label cdx-button cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--weight-quiet cdx-button--icon-only " aria-hidden="true" > Personal tools </label> <div class="vector-dropdown-content"> <div id="p-personal" class="vector-menu mw-portlet mw-portlet-personal user-links-collapsible-item" title="User menu" > <div class="vector-menu-content"> <ul class="vector-menu-content-list"> <li id="pt-sitesupport" class="user-links-collapsible-item mw-list-item"><a href="https://donate.wikimedia.org/wiki/Special:FundraiserRedirector?utm_source=donate&utm_medium=sidebar&utm_campaign=C13_en.wikipedia.org&uselang=en">Donate</a></li><li id="pt-createaccount" class="user-links-collapsible-item mw-list-item"><a href="/w/index.php?title=Special:CreateAccount&returnto=Higher+education+bubble+in+the+United+States" title="You are encouraged to create an account and log in; however, it is not mandatory"> Create account</a></li><li id="pt-login" class="user-links-collapsible-item mw-list-item"><a href="/w/index.php?title=Special:UserLogin&returnto=Higher+education+bubble+in+the+United+States" title="You're encouraged to log in; however, it's not mandatory. [o]" accesskey="o"> Log in</a></li> </ul> </div> </div> <div id="p-user-menu-anon-editor" class="vector-menu mw-portlet mw-portlet-user-menu-anon-editor" > <div class="vector-menu-heading"> Pages for logged out editors <a href="/wiki/Help:Introduction" aria-label="Learn more about editing">learn more</a> </div> <div class="vector-menu-content"> <ul class="vector-menu-content-list"> <li id="pt-anoncontribs" class="mw-list-item"><a href="/wiki/Special:MyContributions" title="A list of edits made from this IP address [y]" accesskey="y">Contributions</a></li><li id="pt-anontalk" class="mw-list-item"><a href="/wiki/Special:MyTalk" title="Discussion about edits from this IP address [n]" accesskey="n">Talk</a></li> </ul> </div> </div> </div> </div> </nav> </div> </header> </div> <div class="mw-page-container"> <div class="mw-page-container-inner"> <div class="vector-sitenotice-container"> <div id="siteNotice"></div> </div> <div class="vector-column-start"> <div class="vector-main-menu-container"> <div id="mw-navigation"> <nav id="mw-panel" class="vector-main-menu-landmark" aria-label="Site"> <div id="vector-main-menu-pinned-container" class="vector-pinned-container"> </div> </nav> </div> </div> <div class="vector-sticky-pinned-container"> <nav id="mw-panel-toc" aria-label="Contents" data-event-name="ui.sidebar-toc" class="mw-table-of-contents-container vector-toc-landmark"> <div id="vector-toc-pinned-container" class="vector-pinned-container"> <div id="vector-toc" class="vector-toc vector-pinnable-element"> <div class="vector-pinnable-header vector-toc-pinnable-header vector-pinnable-header-pinned" data-feature-name="toc-pinned" data-pinnable-element-id="vector-toc" > <h2 class="vector-pinnable-header-label">Contents</h2> <button class="vector-pinnable-header-toggle-button vector-pinnable-header-pin-button" data-event-name="pinnable-header.vector-toc.pin">move to sidebar</button> <button class="vector-pinnable-header-toggle-button vector-pinnable-header-unpin-button" data-event-name="pinnable-header.vector-toc.unpin">hide</button> </div> <ul class="vector-toc-contents" id="mw-panel-toc-list"> <li id="toc-mw-content-text" class="vector-toc-list-item vector-toc-level-1"> <a href="#" class="vector-toc-link"> <div class="vector-toc-text">(Top)</div> </a> </li> <li id="toc-Background" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Background"> <div class="vector-toc-text"> 1 Background </div> </a> <ul id="toc-Background-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Discussion" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Discussion"> <div class="vector-toc-text"> 2 Discussion </div> </a> <button aria-controls="toc-Discussion-sublist" class="cdx-button cdx-button--weight-quiet cdx-button--icon-only vector-toc-toggle"> Toggle Discussion subsection </button> <ul id="toc-Discussion-sublist" class="vector-toc-list"> <li id="toc-Impact_of_the_Coronavirus_Pandemic" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Impact_of_the_Coronavirus_Pandemic"> <div class="vector-toc-text"> 2.1 Impact of the Coronavirus Pandemic </div> </a> <ul id="toc-Impact_of_the_Coronavirus_Pandemic-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> <li id="toc-Controversy" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Controversy"> <div class="vector-toc-text"> 3 Controversy </div> </a> <button aria-controls="toc-Controversy-sublist" class="cdx-button cdx-button--weight-quiet cdx-button--icon-only vector-toc-toggle"> Toggle Controversy subsection </button> <ul id="toc-Controversy-sublist" class="vector-toc-list"> <li id="toc-Alternatives_to_bubble_hypothesis" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Alternatives_to_bubble_hypothesis"> <div class="vector-toc-text"> 3.1 Alternatives to bubble hypothesis </div> </a> <ul id="toc-Alternatives_to_bubble_hypothesis-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> <li id="toc-See_also" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#See_also"> <div class="vector-toc-text"> 4 See also </div> </a> <ul id="toc-See_also-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-References" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#References"> <div class="vector-toc-text"> 5 References </div> </a> <ul id="toc-References-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Further_reading" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Further_reading"> <div class="vector-toc-text"> 6 Further reading </div> </a> <ul id="toc-Further_reading-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-External_links" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#External_links"> <div class="vector-toc-text"> 7 External links </div> </a> <ul id="toc-External_links-sublist" class="vector-toc-list"> </ul> </li> </ul> </div> </div> </nav> </div> </div> <div class="mw-content-container"> <main id="content" class="mw-body"> <header class="mw-body-header vector-page-titlebar"> <nav aria-label="Contents" class="vector-toc-landmark"> <div id="vector-page-titlebar-toc" class="vector-dropdown vector-page-titlebar-toc vector-button-flush-left" > <input type="checkbox" id="vector-page-titlebar-toc-checkbox" role="button" aria-haspopup="true" data-event-name="ui.dropdown-vector-page-titlebar-toc" class="vector-dropdown-checkbox " aria-label="Toggle the table of contents" > <label id="vector-page-titlebar-toc-label" for="vector-page-titlebar-toc-checkbox" class="vector-dropdown-label cdx-button cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--weight-quiet cdx-button--icon-only " aria-hidden="true" > Toggle the table of contents </label> <div class="vector-dropdown-content"> <div id="vector-page-titlebar-toc-unpinned-container" class="vector-unpinned-container"> </div> </div> </div> </nav> <h1 id="firstHeading" class="firstHeading mw-first-heading">Higher education bubble in the United States</h1> <div id="p-lang-btn" class="vector-dropdown mw-portlet mw-portlet-lang" > <input type="checkbox" id="p-lang-btn-checkbox" role="button" aria-haspopup="true" data-event-name="ui.dropdown-p-lang-btn" class="vector-dropdown-checkbox mw-interlanguage-selector" aria-label="Go to an article in another language. Available in 1 language" > <label id="p-lang-btn-label" for="p-lang-btn-checkbox" class="vector-dropdown-label cdx-button cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--weight-quiet cdx-button--action-progressive mw-portlet-lang-heading-1" aria-hidden="true" > 1 language </label> <div class="vector-dropdown-content"> <div class="vector-menu-content"> <ul class="vector-menu-content-list"> <li class="interlanguage-link interwiki-pt mw-list-item"><a href="https://pt.wikipedia.org/wiki/Bolha_do_ensino_superior_nos_Estados_Unidos" title="Bolha do ensino superior nos Estados Unidos – Portuguese" lang="pt" hreflang="pt" data-title="Bolha do ensino superior nos Estados Unidos" data-language-autonym="Português" data-language-local-name="Portuguese" class="interlanguage-link-target">Português</a></li> </ul> <div class="after-portlet after-portlet-lang"><a href="https://www.wikidata.org/wiki/Special:EntityPage/Q5758325#sitelinks-wikipedia" title="Edit interlanguage links" class="wbc-editpage">Edit links</a></div> </div> </div> </div> </header> <div class="vector-page-toolbar"> <div class="vector-page-toolbar-container"> <div id="left-navigation"> <nav aria-label="Namespaces"> <div id="p-associated-pages" class="vector-menu vector-menu-tabs mw-portlet mw-portlet-associated-pages" > <div class="vector-menu-content"> <ul class="vector-menu-content-list"> <li id="ca-nstab-main" class="selected vector-tab-noicon mw-list-item"><a href="/wiki/Higher_education_bubble_in_the_United_States" title="View the content page [c]" accesskey="c">Article</a></li><li id="ca-talk" class="vector-tab-noicon mw-list-item"><a href="/wiki/Talk:Higher_education_bubble_in_the_United_States" rel="discussion" title="Discuss improvements to the content page [t]" accesskey="t">Talk</a></li> </ul> </div> </div> <div id="vector-variants-dropdown" class="vector-dropdown emptyPortlet" > <input type="checkbox" id="vector-variants-dropdown-checkbox" role="button" aria-haspopup="true" data-event-name="ui.dropdown-vector-variants-dropdown" class="vector-dropdown-checkbox " aria-label="Change language variant" > <label id="vector-variants-dropdown-label" for="vector-variants-dropdown-checkbox" class="vector-dropdown-label cdx-button cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--weight-quiet" aria-hidden="true" >English </label> <div class="vector-dropdown-content"> <div id="p-variants" class="vector-menu mw-portlet mw-portlet-variants emptyPortlet" > <div class="vector-menu-content"> <ul class="vector-menu-content-list"> </ul> </div> </div> </div> </div> </nav> </div> <div id="right-navigation" class="vector-collapsible"> <nav aria-label="Views"> <div id="p-views" class="vector-menu vector-menu-tabs mw-portlet mw-portlet-views" > <div class="vector-menu-content"> <ul class="vector-menu-content-list"> <li id="ca-view" class="selected vector-tab-noicon mw-list-item"><a href="/wiki/Higher_education_bubble_in_the_United_States">Read</a></li><li id="ca-edit" class="vector-tab-noicon mw-list-item"><a href="/w/index.php?title=Higher_education_bubble_in_the_United_States&action=edit" title="Edit this page [e]" accesskey="e">Edit</a></li><li id="ca-history" class="vector-tab-noicon mw-list-item"><a href="/w/index.php?title=Higher_education_bubble_in_the_United_States&action=history" title="Past revisions of this page [h]" accesskey="h">View history</a></li> </ul> </div> </div> </nav> <nav class="vector-page-tools-landmark" aria-label="Page tools"> <div id="vector-page-tools-dropdown" class="vector-dropdown vector-page-tools-dropdown" > <input type="checkbox" id="vector-page-tools-dropdown-checkbox" role="button" aria-haspopup="true" data-event-name="ui.dropdown-vector-page-tools-dropdown" class="vector-dropdown-checkbox " aria-label="Tools" > <label id="vector-page-tools-dropdown-label" for="vector-page-tools-dropdown-checkbox" class="vector-dropdown-label cdx-button cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--weight-quiet" aria-hidden="true" >Tools </label> <div class="vector-dropdown-content"> <div id="vector-page-tools-unpinned-container" class="vector-unpinned-container"> <div id="vector-page-tools" class="vector-page-tools vector-pinnable-element"> <div class="vector-pinnable-header vector-page-tools-pinnable-header vector-pinnable-header-unpinned" data-feature-name="page-tools-pinned" data-pinnable-element-id="vector-page-tools" data-pinned-container-id="vector-page-tools-pinned-container" data-unpinned-container-id="vector-page-tools-unpinned-container" > <div class="vector-pinnable-header-label">Tools</div> <button class="vector-pinnable-header-toggle-button vector-pinnable-header-pin-button" data-event-name="pinnable-header.vector-page-tools.pin">move to sidebar</button> <button class="vector-pinnable-header-toggle-button vector-pinnable-header-unpin-button" data-event-name="pinnable-header.vector-page-tools.unpin">hide</button> </div> <div id="p-cactions" class="vector-menu mw-portlet mw-portlet-cactions emptyPortlet vector-has-collapsible-items" title="More options" > <div class="vector-menu-heading"> Actions </div> <div class="vector-menu-content"> <ul class="vector-menu-content-list"> <li id="ca-more-view" class="selected vector-more-collapsible-item mw-list-item"><a href="/wiki/Higher_education_bubble_in_the_United_States">Read</a></li><li id="ca-more-edit" class="vector-more-collapsible-item mw-list-item"><a href="/w/index.php?title=Higher_education_bubble_in_the_United_States&action=edit" title="Edit this page [e]" accesskey="e">Edit</a></li><li id="ca-more-history" class="vector-more-collapsible-item mw-list-item"><a href="/w/index.php?title=Higher_education_bubble_in_the_United_States&action=history">View history</a></li> </ul> </div> </div> <div id="p-tb" class="vector-menu mw-portlet mw-portlet-tb" > <div class="vector-menu-heading"> General </div> <div class="vector-menu-content"> <ul class="vector-menu-content-list"> <li id="t-whatlinkshere" class="mw-list-item"><a href="/wiki/Special:WhatLinksHere/Higher_education_bubble_in_the_United_States" title="List of all English Wikipedia pages containing links to this page [j]" accesskey="j">What links here</a></li><li id="t-recentchangeslinked" class="mw-list-item"><a href="/wiki/Special:RecentChangesLinked/Higher_education_bubble_in_the_United_States" rel="nofollow" title="Recent changes in pages linked from this page [k]" accesskey="k">Related changes</a></li><li id="t-upload" class="mw-list-item"><a href="/wiki/Wikipedia:File_Upload_Wizard" title="Upload files [u]" accesskey="u">Upload file</a></li><li id="t-specialpages" class="mw-list-item"><a href="/wiki/Special:SpecialPages" title="A list of all special pages [q]" accesskey="q">Special pages</a></li><li id="t-permalink" class="mw-list-item"><a href="/w/index.php?title=Higher_education_bubble_in_the_United_States&oldid=1258966953" title="Permanent link to this revision of this page">Permanent link</a></li><li id="t-info" class="mw-list-item"><a href="/w/index.php?title=Higher_education_bubble_in_the_United_States&action=info" title="More information about this page">Page information</a></li><li id="t-cite" class="mw-list-item"><a href="/w/index.php?title=Special:CiteThisPage&page=Higher_education_bubble_in_the_United_States&id=1258966953&wpFormIdentifier=titleform" title="Information on how to cite this page">Cite this page</a></li><li id="t-urlshortener" class="mw-list-item"><a href="/w/index.php?title=Special:UrlShortener&url=https%3A%2F%2Fen.wikipedia.org%2Fwiki%2FHigher_education_bubble_in_the_United_States">Get shortened URL</a></li><li id="t-urlshortener-qrcode" class="mw-list-item"><a href="/w/index.php?title=Special:QrCode&url=https%3A%2F%2Fen.wikipedia.org%2Fwiki%2FHigher_education_bubble_in_the_United_States">Download QR code</a></li> </ul> </div> </div> <div id="p-coll-print_export" class="vector-menu mw-portlet mw-portlet-coll-print_export" > <div class="vector-menu-heading"> Print/export </div> <div class="vector-menu-content"> <ul class="vector-menu-content-list"> <li id="coll-download-as-rl" class="mw-list-item"><a href="/w/index.php?title=Special:DownloadAsPdf&page=Higher_education_bubble_in_the_United_States&action=show-download-screen" title="Download this page as a PDF file">Download as PDF</a></li><li id="t-print" class="mw-list-item"><a href="/w/index.php?title=Higher_education_bubble_in_the_United_States&printable=yes" title="Printable version of this page [p]" accesskey="p">Printable version</a></li> </ul> </div> </div> <div id="p-wikibase-otherprojects" class="vector-menu mw-portlet mw-portlet-wikibase-otherprojects" > <div class="vector-menu-heading"> In other projects </div> <div class="vector-menu-content"> <ul class="vector-menu-content-list"> <li id="t-wikibase" class="wb-otherproject-link wb-otherproject-wikibase-dataitem mw-list-item"><a href="https://www.wikidata.org/wiki/Special:EntityPage/Q5758325" title="Structured data on this page hosted by Wikidata [g]" accesskey="g">Wikidata item</a></li> </ul> </div> </div> </div> </div> </div> </div> </nav> </div> </div> </div> <div class="vector-column-end"> <div class="vector-sticky-pinned-container"> <nav class="vector-page-tools-landmark" aria-label="Page tools"> <div id="vector-page-tools-pinned-container" class="vector-pinned-container"> </div> </nav> <nav class="vector-appearance-landmark" aria-label="Appearance"> <div id="vector-appearance-pinned-container" class="vector-pinned-container"> <div id="vector-appearance" class="vector-appearance vector-pinnable-element"> <div class="vector-pinnable-header vector-appearance-pinnable-header vector-pinnable-header-pinned" data-feature-name="appearance-pinned" data-pinnable-element-id="vector-appearance" data-pinned-container-id="vector-appearance-pinned-container" data-unpinned-container-id="vector-appearance-unpinned-container" > <div class="vector-pinnable-header-label">Appearance</div> <button class="vector-pinnable-header-toggle-button vector-pinnable-header-pin-button" data-event-name="pinnable-header.vector-appearance.pin">move to sidebar</button> <button class="vector-pinnable-header-toggle-button vector-pinnable-header-unpin-button" data-event-name="pinnable-header.vector-appearance.unpin">hide</button> </div> </div> </div> </nav> </div> </div> <div id="bodyContent" class="vector-body" aria-labelledby="firstHeading" data-mw-ve-target-container> <div class="vector-body-before-content"> <div class="mw-indicators"> </div> <div id="siteSub" class="noprint">From Wikipedia, the free encyclopedia</div> </div> <div id="contentSub"><div id="mw-content-subtitle"></div></div> <div id="mw-content-text" class="mw-body-content"><div class="mw-content-ltr mw-parser-output" lang="en" dir="ltr"> <div class="shortdescription nomobile noexcerpt noprint searchaux" style="display:none">Economic trend</div> <figure class="mw-halign-right" typeof="mw:File"><a href="/wiki/File:Tuition_cost_of_college.png" class="mw-file-description" title="Tuition cost of college"><img alt="Tuition cost of college" src="//upload.wikimedia.org/wikipedia/commons/thumb/c/c0/Tuition_cost_of_college.png/400px-Tuition_cost_of_college.png" decoding="async" width="400" height="302" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/c/c0/Tuition_cost_of_college.png/600px-Tuition_cost_of_college.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/c/c0/Tuition_cost_of_college.png/800px-Tuition_cost_of_college.png 2x" data-file-width="3146" data-file-height="2379" /></a><figcaption>Tuition cost of college</figcaption></figure><style data-mw-deduplicate="TemplateStyles:r1129693374">.mw-parser-output .hlist dl,.mw-parser-output .hlist ol,.mw-parser-output .hlist ul{margin:0;padding:0}.mw-parser-output .hlist dd,.mw-parser-output .hlist dt,.mw-parser-output .hlist li{margin:0;display:inline}.mw-parser-output .hlist.inline,.mw-parser-output .hlist.inline dl,.mw-parser-output .hlist.inline ol,.mw-parser-output .hlist.inline ul,.mw-parser-output .hlist dl dl,.mw-parser-output .hlist dl ol,.mw-parser-output .hlist dl ul,.mw-parser-output .hlist ol dl,.mw-parser-output .hlist ol ol,.mw-parser-output .hlist ol ul,.mw-parser-output .hlist ul dl,.mw-parser-output .hlist ul ol,.mw-parser-output .hlist ul ul{display:inline}.mw-parser-output .hlist .mw-empty-li{display:none}.mw-parser-output .hlist dt::after{content:": "}.mw-parser-output .hlist dd::after,.mw-parser-output .hlist li::after{content:" · ";font-weight:bold}.mw-parser-output .hlist dd:last-child::after,.mw-parser-output .hlist dt:last-child::after,.mw-parser-output .hlist li:last-child::after{content:none}.mw-parser-output .hlist dd dd:first-child::before,.mw-parser-output .hlist dd dt:first-child::before,.mw-parser-output .hlist dd li:first-child::before,.mw-parser-output .hlist dt dd:first-child::before,.mw-parser-output .hlist dt dt:first-child::before,.mw-parser-output .hlist dt li:first-child::before,.mw-parser-output .hlist li dd:first-child::before,.mw-parser-output .hlist li dt:first-child::before,.mw-parser-output .hlist li li:first-child::before{content:" (";font-weight:normal}.mw-parser-output .hlist dd dd:last-child::after,.mw-parser-output .hlist dd dt:last-child::after,.mw-parser-output .hlist dd li:last-child::after,.mw-parser-output .hlist dt dd:last-child::after,.mw-parser-output .hlist dt dt:last-child::after,.mw-parser-output .hlist dt li:last-child::after,.mw-parser-output .hlist li dd:last-child::after,.mw-parser-output .hlist li dt:last-child::after,.mw-parser-output .hlist li li:last-child::after{content:")";font-weight:normal}.mw-parser-output .hlist ol{counter-reset:listitem}.mw-parser-output .hlist ol>li{counter-increment:listitem}.mw-parser-output .hlist ol>li::before{content:" "counter(listitem)"\a0 "}.mw-parser-output .hlist dd ol>li:first-child::before,.mw-parser-output .hlist dt ol>li:first-child::before,.mw-parser-output .hlist li ol>li:first-child::before{content:" ("counter(listitem)"\a0 "}</style><style data-mw-deduplicate="TemplateStyles:r1126788409">.mw-parser-output .plainlist ol,.mw-parser-output .plainlist ul{line-height:inherit;list-style:none;margin:0;padding:0}.mw-parser-output .plainlist ol li,.mw-parser-output .plainlist ul li{margin-bottom:0}</style><style data-mw-deduplicate="TemplateStyles:r1246091330">.mw-parser-output .sidebar{width:22em;float:right;clear:right;margin:0.5em 0 1em 1em;background:var(--background-color-neutral-subtle,#f8f9fa);border:1px solid var(--border-color-base,#a2a9b1);padding:0.2em;text-align:center;line-height:1.4em;font-size:88%;border-collapse:collapse;display:table}body.skin-minerva .mw-parser-output .sidebar{display:table!important;float:right!important;margin:0.5em 0 1em 1em!important}.mw-parser-output .sidebar-subgroup{width:100%;margin:0;border-spacing:0}.mw-parser-output .sidebar-left{float:left;clear:left;margin:0.5em 1em 1em 0}.mw-parser-output .sidebar-none{float:none;clear:both;margin:0.5em 1em 1em 0}.mw-parser-output .sidebar-outer-title{padding:0 0.4em 0.2em;font-size:125%;line-height:1.2em;font-weight:bold}.mw-parser-output .sidebar-top-image{padding:0.4em}.mw-parser-output .sidebar-top-caption,.mw-parser-output .sidebar-pretitle-with-top-image,.mw-parser-output .sidebar-caption{padding:0.2em 0.4em 0;line-height:1.2em}.mw-parser-output .sidebar-pretitle{padding:0.4em 0.4em 0;line-height:1.2em}.mw-parser-output .sidebar-title,.mw-parser-output .sidebar-title-with-pretitle{padding:0.2em 0.8em;font-size:145%;line-height:1.2em}.mw-parser-output .sidebar-title-with-pretitle{padding:0.1em 0.4em}.mw-parser-output .sidebar-image{padding:0.2em 0.4em 0.4em}.mw-parser-output .sidebar-heading{padding:0.1em 0.4em}.mw-parser-output .sidebar-content{padding:0 0.5em 0.4em}.mw-parser-output .sidebar-content-with-subgroup{padding:0.1em 0.4em 0.2em}.mw-parser-output .sidebar-above,.mw-parser-output .sidebar-below{padding:0.3em 0.8em;font-weight:bold}.mw-parser-output .sidebar-collapse .sidebar-above,.mw-parser-output .sidebar-collapse .sidebar-below{border-top:1px solid #aaa;border-bottom:1px solid #aaa}.mw-parser-output .sidebar-navbar{text-align:right;font-size:115%;padding:0 0.4em 0.4em}.mw-parser-output .sidebar-list-title{padding:0 0.4em;text-align:left;font-weight:bold;line-height:1.6em;font-size:105%}.mw-parser-output .sidebar-list-title-c{padding:0 0.4em;text-align:center;margin:0 3.3em}@media(max-width:640px){body.mediawiki .mw-parser-output .sidebar{width:100%!important;clear:both;float:none!important;margin-left:0!important;margin-right:0!important}}body.skin--responsive .mw-parser-output .sidebar a>img{max-width:none!important}@media screen{html.skin-theme-clientpref-night .mw-parser-output .sidebar:not(.notheme) .sidebar-list-title,html.skin-theme-clientpref-night .mw-parser-output .sidebar:not(.notheme) .sidebar-title-with-pretitle{background:transparent!important}html.skin-theme-clientpref-night .mw-parser-output .sidebar:not(.notheme) .sidebar-title-with-pretitle a{color:var(--color-progressive)!important}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .sidebar:not(.notheme) .sidebar-list-title,html.skin-theme-clientpref-os .mw-parser-output .sidebar:not(.notheme) .sidebar-title-with-pretitle{background:transparent!important}html.skin-theme-clientpref-os .mw-parser-output .sidebar:not(.notheme) .sidebar-title-with-pretitle a{color:var(--color-progressive)!important}}@media print{body.ns-0 .mw-parser-output .sidebar{display:none!important}}</style><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><table class="sidebar nomobile vcard plainlist" style="width:22.0em; border: 4px double #d69d36;"><tbody><tr><td class="sidebar-pretitle">This article is part of <a href="/wiki/Category:Education_in_the_United_States" title="Category:Education in the United States">a series</a> on</td></tr><tr><th class="sidebar-title-with-pretitle" style="background:#002868; border: 1px double #8C959A;"><a href="/wiki/Education_in_the_United_States" title="Education in the United States">Education in the United States</a></th></tr><tr><th class="sidebar-heading" style="background:#bf0a30; color:#FFF; border: 1px double #8C959A;"> Summary</th></tr><tr><td class="sidebar-content"> <ul><li><a href="/wiki/Category:Education_in_the_United_States_by_state_or_territory" title="Category:Education in the United States by state or territory">By state</a> and <a href="/wiki/Category:Education_in_insular_areas_of_the_United_States" title="Category:Education in insular areas of the United States">in insular areas</a></li> <li><a href="/wiki/Category:Education_in_the_United_States_by_subject" title="Category:Education in the United States by subject">By subject area</a></li> <li><a href="/wiki/History_of_education_in_the_United_States" title="History of education in the United States">History of education in the United States</a></li> <li><a href="/wiki/History_of_education_in_Chicago" title="History of education in Chicago">History of education in Chicago</a></li> <li><a href="/wiki/History_of_education_in_Kentucky" title="History of education in Kentucky">History of education in Kentucky</a></li> <li><a href="/wiki/History_of_education_in_Massachusetts" title="History of education in Massachusetts">History of education in Massachusetts</a></li> <li><a href="/wiki/History_of_education_in_Missouri" title="History of education in Missouri">History of education in Missouri</a></li> <li><a href="/wiki/History_of_education_in_New_York_City" title="History of education in New York City">History of education in New York City</a></li></ul></td> </tr><tr><th class="sidebar-heading" style="background:#bf0a30; color:#FFF; border: 1px double #8C959A;"> Curriculum topics</th></tr><tr><td class="sidebar-content"> <div class="hlist"> <ul><li><a href="/wiki/Literacy_in_the_United_States" title="Literacy in the United States">Literacy</a></li> <li><a href="/wiki/Normal_schools_in_the_United_States" title="Normal schools in the United States">Normal schools</a></li> <li><a href="/wiki/Apprenticeship_degree" title="Apprenticeship degree">Apprenticeship degrees</a></li> <li><a href="/wiki/Art_education_in_the_United_States" title="Art education in the United States">Art education</a></li> <li><a href="/wiki/Civic_education_in_the_United_States" title="Civic education in the United States">Civic education</a></li> <li><a href="/wiki/Music_education_and_programs_within_the_United_States" title="Music education and programs within the United States">Music education</a></li> <li><a href="/wiki/Legal_education_in_the_United_States" title="Legal education in the United States">Legal education</a> <ul><li><a href="/wiki/Law_school_in_the_United_States" title="Law school in the United States">Law school</a></li></ul></li> <li><a href="/wiki/Medical_education_in_the_United_States" title="Medical education in the United States">Medical education</a> <ul><li><a href="/wiki/Medical_school_in_the_United_States" title="Medical school in the United States">Medical school</a></li> <li><a href="/wiki/Nursing_degrees_in_the_United_States" title="Nursing degrees in the United States">Nursing degrees</a></li></ul></li> <li><a href="/wiki/Environmental_education_in_the_United_States" title="Environmental education in the United States">Environmental education</a></li> <li><a href="/wiki/Language_education_in_the_United_States" title="Language education in the United States">Language education</a></li> <li><a href="/wiki/Mathematics_education_in_the_United_States" title="Mathematics education in the United States">Mathematics education</a></li> <li><a href="/wiki/Sex_education_in_the_United_States" title="Sex education in the United States">Sex education</a></li> <li><a href="/wiki/Vocational_education_in_the_United_States" title="Vocational education in the United States">Vocational education</a></li></ul> </div></td> </tr><tr><th class="sidebar-heading" style="background:#bf0a30; color:#FFF; border: 1px double #8C959A;"> <a href="/wiki/Education_policy_of_the_United_States" title="Education policy of the United States">Education policy issues</a></th></tr><tr><td class="sidebar-content"> <div class="hlist"> <ul><li><a href="/wiki/Educational_accreditation" title="Educational accreditation">Accreditation</a> <ul><li><a href="/wiki/Pre-tertiary-education_accreditation" title="Pre-tertiary-education accreditation">Primary and secondary</a></li> <li><a href="/wiki/Higher_education_accreditation_in_the_United_States" title="Higher education accreditation in the United States">Post-secondary</a></li></ul></li> <li><a href="/wiki/Category:Education_finance_in_the_United_States" title="Category:Education finance in the United States">Financing</a></li> <li><a href="/wiki/Educational_attainment_in_the_United_States" title="Educational attainment in the United States">Educational attainment</a></li> <li><a href="/wiki/Issues_in_higher_education_in_the_United_States" title="Issues in higher education in the United States">Post-secondary issues</a> <ul><li><a class="mw-selflink selflink">Bubble</a></li> <li><a href="/wiki/Cost_and_financing_issues_facing_higher_education_in_the_United_States" class="mw-redirect" title="Cost and financing issues facing higher education in the United States">Cost and financing</a></li> <li><a href="/wiki/Educational_inflation" title="Educational inflation">Credentialism</a></li> <li><a href="/wiki/Elite_overproduction" title="Elite overproduction">Elite overproduction</a></li> <li><a href="/wiki/Graduate_unemployment#United_States" title="Graduate unemployment">Graduate unemployment</a></li> <li><a href="/wiki/Student_financial_aid_in_the_United_States" title="Student financial aid in the United States">Student financial aid</a></li> <li><a href="/wiki/Student_loans_in_the_United_States" title="Student loans in the United States">Student loans</a></li></ul></li> <li><a href="/wiki/Education_reform##Contemporary_issues_(United_States)" title="Education reform">Reform</a> <ul><li><a href="/wiki/Charter_schools_in_the_United_States" title="Charter schools in the United States">Charter schools</a></li> <li><a href="/wiki/Educational_inequality_in_the_United_States" title="Educational inequality in the United States">Inequality</a></li> <li><a href="/wiki/Achievement_gaps_in_the_United_States" title="Achievement gaps in the United States">Achievement gaps</a></li> <li><a href="/wiki/Racial_achievement_gap_in_the_United_States" title="Racial achievement gap in the United States">Racial achievement gap</a></li> <li><a href="/wiki/Desegregation_busing" title="Desegregation busing">Desegregation busing</a></li> <li><a href="/wiki/Sex_differences_in_education_in_the_United_States" title="Sex differences in education in the United States">Gender achievement gap</a></li> <li><a href="/wiki/Head_Start_(program)" title="Head Start (program)">Head Start</a></li> <li><a href="/wiki/School_choice" title="School choice">School choice</a></li> <li><a href="/wiki/Racial_diversity_in_United_States_schools" title="Racial diversity in United States schools">Racial diversity</a></li> <li><a href="/wiki/School_segregation_in_the_United_States" title="School segregation in the United States">School segregation</a></li> <li><a href="/wiki/Standards-based_education_reform_in_the_United_States" title="Standards-based education reform in the United States">Standards-based reform</a></li></ul></li> <li><a href="/wiki/School_corporal_punishment_in_the_United_States" title="School corporal punishment in the United States">School corporal punishment</a></li> <li><a href="/wiki/School_meal_programs_in_the_United_States" title="School meal programs in the United States">School meals</a></li> <li><a href="/wiki/School_violence_in_the_United_States" title="School violence in the United States">School violence</a></li> <li><a href="/wiki/Sexual_harassment_in_education_in_the_United_States" title="Sexual harassment in education in the United States">Sexual harassment</a></li> <li><a href="/wiki/Qatari_involvement_in_higher_education_in_the_United_States" title="Qatari involvement in higher education in the United States">Foreign involvement</a></li> <li><a href="/wiki/Special_education_in_the_United_States" title="Special education in the United States">Special education</a></li> <li><a href="/wiki/Apprenticeship_in_the_United_States" title="Apprenticeship in the United States">Apprenticeship</a> <ul><li><a href="/wiki/School-to-work_transition" title="School-to-work transition">School-to-work transition</a></li></ul></li> <li><a href="/wiki/Community_colleges_in_the_United_States" title="Community colleges in the United States">Community colleges</a></li> <li><a href="/wiki/For-profit_higher_education_in_the_United_States" title="For-profit higher education in the United States">For-profit higher education</a> <ul><li><a href="/wiki/For-profit_colleges_in_the_United_States" title="For-profit colleges in the United States">For-profit colleges</a></li></ul></li> <li><a href="/wiki/List_of_research_universities_in_the_United_States" title="List of research universities in the United States">Research universities</a></li> <li><a href="/wiki/Community_school_(United_States)" title="Community school (United States)">Community school</a> <ul><li><a href="/wiki/Full-service_community_schools_in_the_United_States" title="Full-service community schools in the United States">Full-service community schools</a></li></ul></li></ul> </div></td> </tr><tr><th class="sidebar-heading" style="background:#bf0a30; color:#FFF; border: 1px double #8C959A;"> Levels of education</th></tr><tr><td class="sidebar-content"> <div class="hlist"> <ul><li><a href="/wiki/Early_childhood_education_in_the_United_States" title="Early childhood education in the United States">Early childhood</a></li> <li><a href="/wiki/K%E2%80%9312_education_in_the_United_States" title="K–12 education in the United States">K–12</a> <ul><li><a href="/wiki/Primary_education_in_the_United_States" title="Primary education in the United States">Primary</a></li> <li><a href="/wiki/Secondary_education_in_the_United_States" title="Secondary education in the United States">Secondary</a></li></ul></li> <li><a href="/wiki/Higher_education_in_the_United_States" title="Higher education in the United States">Post-secondary</a></li></ul> </div> <ul><li><a href="/wiki/Category:Educational_organizations_based_in_the_United_States" title="Category:Educational organizations based in the United States">Organizations</a></li></ul></td> </tr><tr><td class="sidebar-below" style="border-top:#aaa 1px solid; border-bottom:#aaa 1px solid;"> <a href="/wiki/File:Diploma_icon.png" class="mw-file-description"><img alt="icon" src="//upload.wikimedia.org/wikipedia/commons/thumb/7/76/Diploma_icon.png/16px-Diploma_icon.png" decoding="async" width="16" height="16" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/7/76/Diploma_icon.png/24px-Diploma_icon.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/7/76/Diploma_icon.png/32px-Diploma_icon.png 2x" data-file-width="128" data-file-height="128" /></a> <a href="/wiki/Portal:Education" class="mw-redirect" title="Portal:Education">Education portal</a> <img alt="flag" src="//upload.wikimedia.org/wikipedia/en/thumb/a/a4/Flag_of_the_United_States.svg/16px-Flag_of_the_United_States.svg.png" decoding="async" width="16" height="8" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/a/a4/Flag_of_the_United_States.svg/24px-Flag_of_the_United_States.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/a/a4/Flag_of_the_United_States.svg/32px-Flag_of_the_United_States.svg.png 2x" data-file-width="1235" data-file-height="650" /> <a href="/wiki/Portal:United_States" title="Portal:United States">United States portal</a></td></tr><tr><td class="sidebar-navbar"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><style data-mw-deduplicate="TemplateStyles:r1239400231">.mw-parser-output .navbar{display:inline;font-size:88%;font-weight:normal}.mw-parser-output .navbar-collapse{float:left;text-align:left}.mw-parser-output .navbar-boxtext{word-spacing:0}.mw-parser-output .navbar ul{display:inline-block;white-space:nowrap;line-height:inherit}.mw-parser-output .navbar-brackets::before{margin-right:-0.125em;content:"[ "}.mw-parser-output .navbar-brackets::after{margin-left:-0.125em;content:" ]"}.mw-parser-output .navbar li{word-spacing:-0.125em}.mw-parser-output .navbar a>span,.mw-parser-output .navbar a>abbr{text-decoration:inherit}.mw-parser-output .navbar-mini abbr{font-variant:small-caps;border-bottom:none;text-decoration:none;cursor:inherit}.mw-parser-output .navbar-ct-full{font-size:114%;margin:0 7em}.mw-parser-output .navbar-ct-mini{font-size:114%;margin:0 4em}html.skin-theme-clientpref-night .mw-parser-output .navbar li a abbr{color:var(--color-base)!important}@media(prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .navbar li a abbr{color:var(--color-base)!important}}@media print{.mw-parser-output .navbar{display:none!important}}</style><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Education_in_the_U.S." title="Template:Education in the U.S."><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Education_in_the_U.S." title="Template talk:Education in the U.S."><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Education_in_the_U.S." title="Special:EditPage/Template:Education in the U.S."><abbr title="Edit this template">e</abbr></a></li></ul></div></td></tr></tbody></table> There is concern that the possible higher education bubble in the United States could have negative repercussions in the broader economy. Although college <a href="/wiki/Tuition_payments" title="Tuition payments">tuition payments</a> are rising, the supply of college graduates in many fields of study is exceeding the demand for their skills, which aggravates <a href="/wiki/Graduate_unemployment" title="Graduate unemployment">graduate unemployment</a> and underemployment while increasing the burden of <a href="/wiki/Student_loan" title="Student loan">student loan</a> <a href="/wiki/Default_(finance)" title="Default (finance)">defaults</a> on <a href="/wiki/Financial_institution" title="Financial institution">financial institutions</a> and <a href="/wiki/Taxpayer" title="Taxpayer">taxpayers</a>.<a href="#cite_note-1">[1]</a><a href="#cite_note-2">[2]</a><a href="#cite_note-3">[3]</a> Moreover, the higher education bubble might be even more serious than load of student debts.<a href="#cite_note-:11-4">[4]</a> Without safeguards in place for funding and loans, the government risks creating a <a href="/wiki/Moral_hazard" title="Moral hazard">moral hazard</a> in which schools charge students expensive tuition fees without offering them marketable skills in return.<a href="#cite_note-:10-5">[5]</a><a href="#cite_note-:12-6">[6]</a> The claim has generally been used to justify cuts to public higher education spending, <a href="/wiki/Tax_cut" title="Tax cut">tax cuts</a>, or a shift of government spending towards law enforcement and national security.<a href="#cite_note-7">[7]</a><a href="#cite_note-8">[8]</a><a href="#cite_note-9">[9]</a><a href="#cite_note-10">[10]</a> There is a further concern that having an excess supply of college graduates exacerbates political instability,<a href="#cite_note-11">[11]</a><a href="#cite_note-Smith-12">[12]</a><a href="#cite_note-:32-13">[13]</a> historically linked to having a bulge in the number of young degree holders.<a href="#cite_note-:27-14">[14]</a><a href="#cite_note-15">[15]</a><a href="#cite_note-:15-16">[16]</a> Some economists reject the notion of a higher education bubble, noting that the returns on higher education vastly outweigh the cost,<a href="#cite_note-Simkovic-17">[17]</a><a href="#cite_note-Thomas_Lemieux_2006-18">[18]</a><a href="#cite_note-chronicle.com-19">[19]</a><a href="#cite_note-20">[20]</a> while others believe that the number of institutions of higher education in the United States will fall in the 2020s and beyond, citing reasons of demographic decline, poor outcomes, economic problems, and changing public interests and attitudes.<a href="#cite_note-:66-21">[21]</a><a href="#cite_note-:262-22">[22]</a><a href="#cite_note-:672-23">[23]</a><a href="#cite_note-:3-24">[24]</a><a href="#cite_note-:25-25">[25]</a> According to the U.S. <a href="/wiki/United_States_Department_of_Education" title="United States Department of Education">Department of Education</a>, by the late 2010s, people with technical or vocational trainings are slightly more likely to be employed than those with a bachelor's degree and significantly more likely to be employed in their fields of specialty. The United States currently suffers from a shortage of skilled tradespeople.<a href="#cite_note-:112-26">[26]</a><a href="#cite_note-27">[27]</a> The <a href="/wiki/Federal_Reserve_Bank_of_St._Louis" title="Federal Reserve Bank of St. Louis">Federal Reserve Bank of St. Louis</a> noted in 2019 that investment in higher education has reached a point of <a href="/wiki/Diminishing_returns" title="Diminishing returns">diminishing marginal returns</a>.<a href="#cite_note-Emmons_Kent_&_Ricketts_2019-28">[28]</a> Undergraduate and graduate enrollments have both been in decline,<a href="#cite_note-:60-29">[29]</a><a href="#cite_note-:0-30">[30]</a> while trade schools continue to attract growing numbers of students.<a href="#cite_note-:18-31">[31]</a><a href="#cite_note-:14-32">[32]</a> White men are a major group opting for alternatives to higher education.<a href="#cite_note-:262-22">[22]</a><a href="#cite_note-:29-33">[33]</a> Many faculty members are leaving academia,<a href="#cite_note-:1-34">[34]</a> especially those from the humanities.<a href="#cite_note-:2-35">[35]</a> At the same time, university graduates are likely to regret having studied the humanities and liberal arts.<a href="#cite_note-:6-36">[36]</a><a href="#cite_note-:7-37">[37]</a> While academics maintain that certain subjects are worth studying for their own sake, students are more concerned with increasing their earning potential.<a href="#cite_note-:17-38">[38]</a><a href="#cite_note-:13-39">[39]</a> So far this century, numerous institutions of higher learning have permanently closed,<a href="#cite_note-:5-40">[40]</a> especially rural liberal arts colleges,<a href="#cite_note-:30-41">[41]</a> community colleges,<a href="#cite_note-:9-42">[42]</a> and for-profit institutions.<a href="#cite_note-:19-43">[43]</a><a href="#cite_note-:20-44">[44]</a> It is possible that the bubble will not burst, but rather deflate.<a href="#cite_note-:19-43">[43]</a> <meta property="mw:PageProp/toc" /> <div class="mw-heading mw-heading2"><h2 id="Background">Background</h2>[<a href="/w/index.php?title=Higher_education_bubble_in_the_United_States&action=edit&section=1" title="Edit section: Background">edit</a>]</div> <style data-mw-deduplicate="TemplateStyles:r1236090951">.mw-parser-output .hatnote{font-style:italic}.mw-parser-output div.hatnote{padding-left:1.6em;margin-bottom:0.5em}.mw-parser-output .hatnote i{font-style:normal}.mw-parser-output .hatnote+link+.hatnote{margin-top:-0.5em}@media print{body.ns-0 .mw-parser-output .hatnote{display:none!important}}</style><div role="note" class="hatnote navigation-not-searchable">Further information: <a href="/wiki/Higher_education_in_the_United_States" title="Higher education in the United States">Higher education in the United States</a></div> Due to the <a href="/wiki/GI_Bill" class="mw-redirect" title="GI Bill">GI Bill</a> and the population boom after World War II, demand for higher education grew significantly during the latter half of the twentieth century, making it one of the major growth sectors for the American economy.<a href="#cite_note-:19-43">[43]</a><a href="#cite_note-:20-44">[44]</a> Historically, high schools separated students on career tracks, but this changed in the late 1980s and early 1990s, when the mission of high schools shifted to preparing students for college.<a href="#cite_note-45">[45]</a> In 1987, <a href="/wiki/U.S._Secretary_of_Education" class="mw-redirect" title="U.S. Secretary of Education">U.S. Secretary of Education</a> <a href="/wiki/William_Bennett" title="William Bennett">William Bennett</a> suggested that the availability of loans was fueling an increase in tuition prices and an education bubble.<a href="#cite_note-46">[46]</a> The "Bennett hypothesis" claimed that readily available loans allow schools to increase tuition without regard to <a href="/wiki/Price_elasticity_of_demand" title="Price elasticity of demand">demand elasticity</a>. In addition, <a href="/wiki/College_and_university_rankings" title="College and university rankings">college rankings</a> were partially driven by spending levels,<a href="#cite_note-47">[47]</a> and higher tuition was also correlated with increased public perceptions of <a href="https://en.wiktionary.org/wiki/prestige" class="extiw" title="wikt:prestige">prestige</a>.<a href="#cite_note-48">[48]</a> From the 1980s to the 2010s, demand for higher education increased, especially after the Great Recession of 2007–2009 when Americans flocked back to school in order to adapt to the new economy.<a href="#cite_note-49">[49]</a><a href="#cite_note-:20-44">[44]</a> A 2011 study from the Labor Department found that a bachelor's degree "represents a significant advantage in the job market."<a href="#cite_note-50">[50]</a> In 2011, <a href="/wiki/The_Chronicle_of_Higher_Education" title="The Chronicle of Higher Education">The Chronicle of Higher Education</a> ran an article which said that the future was bright for college graduates.<a href="#cite_note-51">[51]</a> The data also suggested that, notwithstanding a slight increase in 2008–09, student <a href="/wiki/Default_(finance)" title="Default (finance)">loan default</a> rates had declined between the mid-1980s and 1990s and early 2010s.<a href="#cite_note-phys.org-52">[52]</a><a href="#cite_note-Kirkham-53">[53]</a> The management consulting firm <a href="/wiki/McKinsey_%26_Company" title="McKinsey & Company">McKinsey & Company</a> projected in 2011 that a shortage of college-educated workers and a surplus of workers without college degrees, which would cause the wage premium to increase and cause differences in unemployment rates to become even more dramatic.<a href="#cite_note-54">[54]</a> As of 2018, 70% of high school graduates in the United States enrolled in <a href="/wiki/Tertiary_education" title="Tertiary education">tertiary education</a>. But only 60% of those students, that is 42% of high school graduates, will graduate within 6 years with at least a Bachelor's degree.<a href="#cite_note-55">[55]</a> Note that Bachelor's degrees in the United States are typically designed to be completed in four years of full-time study, and Master's programs in the US are normally two years (full-time) in length. <table class="wikitable"> <caption>Educational attainment in the United States (2018)<a href="#cite_note-56">[56]</a> </caption> <tbody><tr> <th>Education </th> <th>Age 25 and over </th> <th>Age 25–30 </th></tr> <tr> <td>High school diploma or <a href="/wiki/General_Educational_Development" title="General Educational Development">GED</a> </td> <td align="right">89.80% </td> <td align="right">92.95% </td></tr> <tr> <td>Some college </td> <td align="right">61.28% </td> <td align="right">66.34% </td></tr> <tr> <td>Associate degree </td> <td align="right">45.16% </td> <td align="right">46.72% </td></tr> <tr> <td>Bachelor's degree </td> <td align="right">34.98% </td> <td align="right">36.98% </td></tr> <tr> <td>Master's degree </td> <td align="right">13.04% </td> <td align="right">9.01% </td></tr> <tr> <td>Professional degree </td> <td align="right">3.47% </td> <td align="right">2.02% </td></tr> <tr> <td>Doctorate </td> <td align="right">2.03% </td> <td align="right">1.12% </td></tr></tbody></table> <div class="mw-heading mw-heading2"><h2 id="Discussion">Discussion</h2>[<a href="/w/index.php?title=Higher_education_bubble_in_the_United_States&action=edit&section=2" title="Edit section: Discussion">edit</a>]</div> <figure class="mw-default-size mw-halign-left" typeof="mw:File/Thumb"><a href="/wiki/File:College_tuition_cpi.jpg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/2/29/College_tuition_cpi.jpg/220px-College_tuition_cpi.jpg" decoding="async" width="220" height="185" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/2/29/College_tuition_cpi.jpg/330px-College_tuition_cpi.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/2/29/College_tuition_cpi.jpg/440px-College_tuition_cpi.jpg 2x" data-file-width="564" data-file-height="475" /></a><figcaption>Cost of US college education relative to the <a href="/wiki/Consumer_price_index" title="Consumer price index">consumer price index</a> (inflation)</figcaption></figure>During the early 2010s, whether or not the "higher-education bubble" existed became a topic of debate among economists. Data has shown that although the wage premium (the difference in incomes between those with a four-year college degree and those with only a high school diploma) has increased dramatically since the 1970s, so has the 'debt load' incurred by students due to the tuition inflation.<a href="#cite_note-Simkovic-17">[17]</a><a href="#cite_note-Thomas_Lemieux_2006-18">[18]</a><a href="#cite_note-chronicle.com-19">[19]</a> By 2019, the total college debt exceeded US$1.5 trillion, and two out of three college graduates were saddled with debt.<a href="#cite_note-:3-24">[24]</a> <a href="/wiki/Glenn_Reynolds" title="Glenn Reynolds">Glenn Reynolds</a> argued in his book, The Higher Education Bubble (2012), that higher education as a "product grows more and more elaborate—and more expensive—but the expense is offset by cheap credit provided by sellers who are eager to encourage buyers to buy."<a href="#cite_note-57">[57]</a> Reynolds called university degrees a marker of <a href="/wiki/Socioeconomic_status" title="Socioeconomic status">socioeconomic status</a>.<a href="#cite_note-:21-58">[58]</a> Economists <a href="/wiki/Michael_Spence" title="Michael Spence">Michael Spence</a> and <a href="/wiki/Joseph_Stiglitz" title="Joseph Stiglitz">Joe Stiglitz</a> suggest that much of the worth of a university degree lies not in the skills acquired, but rather <a href="/wiki/Signalling_(economics)" title="Signalling (economics)">market signaling</a>.<a href="#cite_note-59">[59]</a> Because a university degree still had considerable value, higher education might be an example of a <a href="/wiki/Veblen_good" title="Veblen good">Veblen good</a>, albeit a subtle rather than a <a href="/wiki/Conspicuous_consumption" title="Conspicuous consumption">conspicuous</a> one.<a href="#cite_note-60">[60]</a><a href="#cite_note-61">[61]</a><a href="#cite_note-62">[62]</a> <figure typeof="mw:File/Thumb"><a href="/wiki/File:US_Student_Loans_(FRED).png" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/c/c2/US_Student_Loans_%28FRED%29.png/400px-US_Student_Loans_%28FRED%29.png" decoding="async" width="400" height="158" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/c/c2/US_Student_Loans_%28FRED%29.png/600px-US_Student_Loans_%28FRED%29.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/c/c2/US_Student_Loans_%28FRED%29.png/800px-US_Student_Loans_%28FRED%29.png 2x" data-file-width="1138" data-file-height="450" /></a><figcaption>Data from the Federal Reserve shows that student debt has risen steadily during the 2000s and 2010s.</figcaption></figure> Research from the Center for Household Financial Stability of the Federal Reserve Bank of St. Louis presented in 2018 predicted a positive albeit declining income premium for completing college but a declining wealth premium, which is almost indistinguishable from zero for the most recent cohort.<a href="#cite_note-NYT42415-63">[63]</a> Consequently, the average <a href="/wiki/Millennials_in_the_United_States" title="Millennials in the United States">Millennial</a> with a university degree earns 20% less than expected.<a href="#cite_note-64">[64]</a> It was thought that people with college degrees are much less likely than those without to be unemployed, even though they are more expensive to employ (they earn higher wages).<a href="#cite_note-Education_Pays-65">[65]</a> In 2019, a report from the <a href="/wiki/Federal_Reserve_Bank_of_St._Louis" title="Federal Reserve Bank of St. Louis">Federal Reserve Bank of St. Louis</a> using data from the 2016 <a href="/wiki/Survey_of_Consumer_Finances" title="Survey of Consumer Finances">Survey of Consumer Finances</a> concluded that after controlling for race and age cohort, families with heads of household with post-secondary education who were born before 1980 benefited from wealth and income premiums, while for families with heads of household with post-secondary education but born after 1980 the wealth premium has weakened to point of <a href="/wiki/Statistical_significance" title="Statistical significance">statistical insignificance</a> due in part to the <a href="/wiki/Cost_and_financing_issues_facing_higher_education_in_the_United_States" class="mw-redirect" title="Cost and financing issues facing higher education in the United States">rising cost of college</a>. Moreover, although the income premium remains positive, it had declined to historic lows with more pronounced downward trajectories with heads of household with <a href="/wiki/Postgraduate_education" title="Postgraduate education">postgraduate degrees</a>.<a href="#cite_note-Emmons_Kent_&_Ricketts_2019-28">[28]</a> However, this thesis came under stress in the 2010s, as institutions of higher education came under heightened skepticism due to high costs and disappointing results. People became increasingly concerned about debts and deficits, forcing institutions to prove their worth by clarifying how much money from which industry and company funded research, and how much it would cost to attend.<a href="#cite_note-66">[66]</a> By the 2020s, graduating from a prestigious university no longer guaranteed gainful employment immediately after graduation.<a href="#cite_note-67">[67]</a> According to Gallup, public confidence in higher education has declined "sharply" between 2015 and 2023; even those with bachelor's or advanced degrees were less approving than before.<a href="#cite_note-:25-25">[25]</a> An alternative thesis has suggested that there is no general bubble in higher education because, on average, higher education really does boost income and employment by more than enough to make it a good investment. The problem is that degrees in some specific fields may be overvalued because they do little to boost income or improve job prospects, and degrees in other fields may in fact be undervalued because students do not appreciate the extent to which these degrees could benefit their employment prospects and future income. Proponents of this argument have noted that schools charge equal prices for tuition regardless of what students study, but the interest rate on federal student loans is not adjusted according to risk. They have further noted that there is evidence that undergraduate students in their first three years of college are not very good at predicting future wages by major.<a href="#cite_note-Simkovic-17">[17]</a> Indeed, student interest has shifted away from low-paying programs towards those of greater value in the job market.<a href="#cite_note-:17-38">[38]</a><a href="#cite_note-:10-5">[5]</a> (See chart below.) <figure class="mw-halign-center" typeof="mw:File/Thumb"><a href="/wiki/File:U.S._college_major_change_between_2011_and_2018.png" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/3/39/U.S._college_major_change_between_2011_and_2018.png/680px-U.S._college_major_change_between_2011_and_2018.png" decoding="async" width="680" height="383" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/3/39/U.S._college_major_change_between_2011_and_2018.png/1020px-U.S._college_major_change_between_2011_and_2018.png 1.5x, //upload.wikimedia.org/wikipedia/commons/3/39/U.S._college_major_change_between_2011_and_2018.png 2x" data-file-width="1214" data-file-height="683" /></a><figcaption>Healthcare and <a href="/wiki/Science,_technology,_engineering,_and_mathematics" title="Science, technology, engineering, and mathematics">STEM</a>, especially computer science, grew in popularity while the liberal arts and social studies, especially history, have declined due to market forces.<a href="#cite_note-:81-68">[68]</a><a href="#cite_note-:13-39">[39]</a></figcaption></figure> Among graduates of the early 2020s, the most regretted majors include <a href="/wiki/Journalism" title="Journalism">journalism</a>, <a href="/wiki/Sociology" title="Sociology">sociology</a>, <a href="/wiki/Liberal_arts_education" title="Liberal arts education">liberal arts</a>/<a href="/wiki/Bachelor_of_General_Studies" title="Bachelor of General Studies">general studies</a>, <a href="/wiki/History" title="History">history</a>, <a href="/wiki/Communication" title="Communication">communications</a>, and <a href="/wiki/Education" title="Education">education</a>;<a href="#cite_note-69">[69]</a> the least regretted majors include <a href="/wiki/Computer_science" title="Computer science">computer science</a> and <a href="/wiki/Information_technology" title="Information technology">information technology</a>, <a href="/wiki/Finance" title="Finance">finance</a>, <a href="/wiki/Engineering" title="Engineering">engineering</a>, <a href="/wiki/Nursing" title="Nursing">nursing</a>, and <a href="/wiki/Health_care" title="Health care">health</a>.<a href="#cite_note-:6-36">[36]</a> Music and the <a href="/wiki/Visual_arts" title="Visual arts">visual arts</a> are the most likely to offer a negative <a href="/wiki/Return_on_investment" title="Return on investment">return on investment</a>.<a href="#cite_note-:13-39">[39]</a> At the same time, graduates with the highest expected income studied <a href="/wiki/Chemical_engineering" title="Chemical engineering">chemical engineering</a>, <a href="/wiki/Computer_engineering" title="Computer engineering">computer engineering</a>, <a href="/wiki/Aerospace_engineering" title="Aerospace engineering">aerospace engineering</a>, <a href="/wiki/Electrical_engineering" title="Electrical engineering">electrical engineering</a>, finance, and the <a href="/wiki/List_of_life_sciences" title="List of life sciences">life sciences</a>.<a href="#cite_note-70">[70]</a><a href="#cite_note-:7-37">[37]</a> Prospective employers and state governments have gotten pickier in the collegiate programs they are willing to finance.<a href="#cite_note-:17-38">[38]</a><a href="#cite_note-71">[71]</a> As of 2023, seven states had passed legislation requiring the disclosure of data on the worth of a university degree, such as students' loan payment and post-graduation employment.<a href="#cite_note-:12-6">[6]</a> Another reason for the decline of interest in the humanities and liberal arts is the fact that many prospective students avoided them for fear of loss of parental support,<a href="#cite_note-:16-72">[72]</a> and the perceived intolerance towards conservatives on college campuses, which tend to be dominated by left-wing faculty members,<a href="#cite_note-:16-72">[72]</a> though the details are not as simple as they first appear.<a href="#cite_note-73">[73]</a> On the other hand, in the life sciences, the number of students or researchers interested in a postdoctoral fellowship had plummeted thanks to a boom in the biotechnology industry, which has had an insatiable appetite for talents and is willing to pay much higher than universities.<a href="#cite_note-74">[74]</a><a href="#cite_note-75">[75]</a> In physics and engineering, which are traditionally male-dominated fields, enrollments had also fallen since 2020, as white men lost interest in higher education.<a href="#cite_note-:29-33">[33]</a> Due to these trends, public universities have also trimmed their STEM departments.<a href="#cite_note-76">[76]</a> Colleges and universities have been criticized for offering degree programs that fail to provide students with relevant skills in the labor market after graduation,<a href="#cite_note-77">[77]</a> as well as <a href="/wiki/Grade_inflation" title="Grade inflation">grade inflation</a> by lowering standards both for admission and coursework. Economist <a href="/wiki/Bryan_Caplan" title="Bryan Caplan">Bryan Caplan</a> has argued the combination of more college graduates and weaker learning outcomes has led to <a href="/wiki/Credential_inflation" class="mw-redirect" title="Credential inflation">credential inflation</a>, in which employers ask for college degrees for jobs that don’t need one and previously did not require one.<a href="#cite_note-78">[78]</a> According to a Burning Glass Institute analysis of 2022 U.S. Census Bureau data, Bachelor’s degree holders in college-level jobs earn nearly 90% more than people with just a high-school diploma in their 20s, while 45% of college graduates are underemployed and earn 25% more than high-school graduates (not adjusting for any student loan debt of such graduates).<a href="#cite_note-79">[79]</a> Due to popular demand, the cost of higher education has grown at a rate faster than inflation between the late 20th and early 21st centuries.<a href="#cite_note-:4-80">[80]</a> Student housing costs have risen faster than even tuition fees.<a href="#cite_note-81">[81]</a> From the 1990s to the 2010s, tuition and fees jumped 440%, as federal loans for students became more generous.<a href="#cite_note-:21-58">[58]</a> Student debt has correspondingly increased as a result.<a href="#cite_note-82">[82]</a> <figure class="mw-default-size" typeof="mw:File/Thumb"><a href="/wiki/File:USA_Population_Pyramid.svg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/b/bd/USA_Population_Pyramid.svg/220px-USA_Population_Pyramid.svg.png" decoding="async" width="220" height="189" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/b/bd/USA_Population_Pyramid.svg/330px-USA_Population_Pyramid.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/b/bd/USA_Population_Pyramid.svg/440px-USA_Population_Pyramid.svg.png 2x" data-file-width="2822" data-file-height="2418" /></a><figcaption>U.S. population pyramid in 2023. The number of Americans of college age will drop by the late 2020s,<a href="#cite_note-:23-83">[83]</a> at a faster rate by the late 2030s.<a href="#cite_note-:26-84">[84]</a></figcaption></figure> The 2010s were a turbulent period for higher education in the United States, as small private colleges from across the country faced deep financial trouble as they had to make high tuition discounts in order to attract students at a time when higher education costs were increasing, regulation was becoming more stringent, and <a href="/wiki/Aging_of_the_United_States" title="Aging of the United States">demographic challenges</a> were becoming more severe<a href="#cite_note-:56-85">[85]</a><a href="#cite_note-:19-43">[43]</a> By the early 2020s, enrollments were declining at a growing rate as the number of high-school graduates continued to fall.<a href="#cite_note-:26-84">[84]</a><a href="#cite_note-:30-41">[41]</a> Pew Trusts projected in 2022 that most U.S. states will see a decline in grade-school enrollments during the 2020s, which would help curb of the cost of higher education going forward.<a href="#cite_note-:44-86">[86]</a> A 2019 analysis by Moody's Investor Services estimated that about 20% of all small private liberal arts colleges in the United States were in serious financial trouble.<a href="#cite_note-:672-23">[23]</a> Between the early 2000s and early 2020s, hundreds of institutions permanently closed their doors.<a href="#cite_note-:5-40">[40]</a> In fact, they were closing at an accelerating rate, and for-profit institutions were the hardest hit, as they were targeted by stricter regulations from the Obama administration.<a href="#cite_note-:19-43">[43]</a><a href="#cite_note-:20-44">[44]</a> Public universities had to downsize or to merge.<a href="#cite_note-:23-83">[83]</a> Rural ones had closed majors across the board, from the humanities to the sciences.<a href="#cite_note-87">[87]</a> More than half of the colleges and universities that remained saw substantial reductions in the number of students attending.<a href="#cite_note-:19-43">[43]</a> Such institutions have adapted to the new reality by dropping programs with low student interest, including many in the liberal arts and the humanities, like <a href="/wiki/Gender_studies" title="Gender studies">gender studies</a> and <a href="/wiki/Critical_race_theory" title="Critical race theory">critical race theory</a>,<a href="#cite_note-:81-68">[68]</a> creating majors for emerging fields, such as <a href="/wiki/Artificial_intelligence" title="Artificial intelligence">artificial intelligence</a>,<a href="#cite_note-:56-85">[85]</a> and professional programs, like <a href="/wiki/Law_enforcement_in_the_United_States" title="Law enforcement in the United States">law enforcement</a>,<a href="#cite_note-:5-40">[40]</a> investing in online learning programs,<a href="#cite_note-:56-85">[85]</a> and addressing untapped demands, such as mid-career training or <a href="/wiki/Continuing_education" title="Continuing education">continuing education</a>.<a href="#cite_note-:23-83">[83]</a> By the early 2020s, the rate of growth of tuition fees had dropped, and some schools were freezing or even cutting theirs.<a href="#cite_note-:23-83">[83]</a> If affordable or free online learning continued to grow, then non-elite institutions would struggle to justify their physical infrastructure.<a href="#cite_note-:11-4">[4]</a> Domestic undergraduate enrollment has been on the decline for some time.<a href="#cite_note-:60-29">[29]</a><a href="#cite_note-88">[88]</a> By 2022, only 62% of high-school graduates were heading for college compared to 70% in 2015.<a href="#cite_note-:132-89">[89]</a> This trend is projected to accelerate in the 2030s.<a href="#cite_note-:26-84">[84]</a> On the other hand, prestigious universities saw continued growth in the number of applicants and as such were in no danger of closing.<a href="#cite_note-90">[90]</a> This was due partly to students sending their applications to more schools for a chance of getting admitted<a href="#cite_note-91">[91]</a> and because (elite) institutions had not significantly expanded their capacities.<a href="#cite_note-92">[92]</a> <div class="mw-heading mw-heading3"><h3 id="Impact_of_the_Coronavirus_Pandemic">Impact of the Coronavirus Pandemic</h3>[<a href="/w/index.php?title=Higher_education_bubble_in_the_United_States&action=edit&section=3" title="Edit section: Impact of the Coronavirus Pandemic">edit</a>]</div> The arrival of <a href="/wiki/COVID-19_pandemic_in_the_United_States" title="COVID-19 pandemic in the United States">COVID-19 in the United States</a> in 2020 merely accelerated many of the previous trends at work.<a href="#cite_note-:24-93">[93]</a> The coronavirus not only wrought havoc on the nation but also caused a severe economic downturn. Consequently, families either delayed or avoided sending their children to institutions of higher education altogether.<a href="#cite_note-94">[94]</a> Undergraduate enrollments dropped even after the return of in-person classes.<a href="#cite_note-:8-95">[95]</a> Worse still for colleges and universities, they had become dependent on foreign students for revenue because they pay full tuition fees and the international restrictions imposed to alleviate the spread of the pandemic meant that this stream of revenue shrank substantially.<a href="#cite_note-:24-93">[93]</a><a href="#cite_note-96">[96]</a> Several colleges permanently closed their doors by the end of the 2019–20 academic year.<a href="#cite_note-97">[97]</a> Numerous institutions, including elite ones, suspended graduate programs in the humanities and liberal arts due to low student interest and dim employment prospects.<a href="#cite_note-98">[98]</a><a href="#cite_note-Smith-12">[12]</a> Various polls indicated that a growing number of Americans became skeptical of the value of higher education relative to the cost<a href="#cite_note-99">[99]</a><a href="#cite_note-100">[100]</a> and said they wanted to see K–12 education be less focused on college preparation.<a href="#cite_note-101">[101]</a> Having witnessed the Millennials accumulating large amounts of student debts, members of <a href="/wiki/Generation_Z_in_the_United_States" title="Generation Z in the United States">Generation Z</a> also tended to be more skeptical of the value of higher education<a href="#cite_note-102">[102]</a> and have been more open to alternative educational routes and career options.<a href="#cite_note-:40-103">[103]</a> Young men, especially whites, have increasingly looked elsewhere due to the hostility of identity politics on campus directed towards them.<a href="#cite_note-:262-22">[22]</a> Meanwhile, the number of <a href="/wiki/Women%27s_colleges_in_the_United_States" title="Women's colleges in the United States">women's colleges</a> continued to fall, following a decades-long trend.<a href="#cite_note-104">[104]</a> But <a href="/wiki/Community_colleges_in_the_United_States" title="Community colleges in the United States">community colleges</a> have fared the worst of all, losing 37% of enrollments between 2010 and 2023. Prospective students have been shunning them in large numbers due to the low quality of education and student services.<a href="#cite_note-:9-42">[42]</a><a href="#cite_note-105">[105]</a> As of 2024, American institutions of higher learning were closing at a rate of one per week.<a href="#cite_note-106">[106]</a> Some employers have now been hiring graduates directly from high school,<a href="#cite_note-:0-30">[30]</a> offering them generous bonuses, high wages, and (paid) apprenticeship programs in order to offset the ongoing labor shortage.<a href="#cite_note-:8-95">[95]</a><a href="#cite_note-107">[107]</a> Trade schools and apprenticeship programs have seen significant increases in enrollment<a href="#cite_note-:18-31">[31]</a><a href="#cite_note-:14-32">[32]</a><a href="#cite_note-:28-108">[108]</a> while about a third of college graduates, including 38% of recent graduates, worked in jobs that did not require a university degree, according to data from the <a href="/wiki/Federal_Reserve_Bank_of_New_York" title="Federal Reserve Bank of New York">Federal Reserve Bank of New York</a>.<a href="#cite_note-109">[109]</a> Although the previous Democratic administrations of <a href="/wiki/Bill_Clinton" title="Bill Clinton">Bill Clinton</a> and <a href="/wiki/Barack_Obama" title="Barack Obama">Barack Obama</a> focused on higher education and high-skilled jobs, the <a href="/wiki/Joe_Biden" title="Joe Biden">Joe Biden</a> government has been emphasizing <a href="/wiki/Blue-collar_worker" title="Blue-collar worker">blue-collar jobs</a> that do not require a college degree, as part of its <a href="/wiki/Build_Back_Better_Plan" title="Build Back Better Plan">economic plan</a> to modernize public infrastructure and to rejuvenate the manufacturing sector.<a href="#cite_note-110">[110]</a> Before Biden, President Donald Trump signed a 2017 executive order expanding federal funding for apprenticeship programs which had bipartisan support.<a href="#cite_note-:28-108">[108]</a> In 2022, President Biden announced an initiative aimed at expanding apprenticeship and work-based training programs in K–12 public schools in order to create a competitive and skilled workforce.<a href="#cite_note-111">[111]</a> On the other hand, Biden's student loan relief plan worth $400 billion was struck down by the Supreme Court of the United States.<a href="#cite_note-112">[112]</a> In the aftermath of the COVID-19 pandemic, colleges and universities saw an increase in the number of faculty members leaving academia, citing low pay, stressful work environments, heavy workloads, lack of administrative support, and <a href="/wiki/Occupational_burnout" title="Occupational burnout">occupational burnout</a> as reasons for their decisions. Non-tenure track professors now make up three-quarters of college faculty, up from a quarter in 1975.<a href="#cite_note-:1-34">[34]</a> Moreover, lecturers and professors in the humanities face a highly precarious job market.<a href="#cite_note-:2-35">[35]</a> Graduates who majored in the humanities and the liberal arts in the 2010s were most likely to regret having done so and had lower expected incomes than their counterparts in STEM.<a href="#cite_note-113">[113]</a> Between the early 2000s and the late 2010s, the number of students from emerging economies going abroad for higher education increased,<a href="#cite_note-:80-114">[114]</a> and the United States was the most popular destination for international students, many of whom were from mainland China.<a href="#cite_note-:78-115">[115]</a><a href="#cite_note-:22-116">[116]</a> In fact, the United States was the single most popular destination for Chinese students; among children of the Chinese ruling class ("<a href="/wiki/Princelings" title="Princelings">princelings</a>"), attending elite institutions in the United States was commonplace and seen as a status symbol,<a href="#cite_note-:22-116">[116]</a> but the deterioration in the bilateral relationship as exemplified by President Donald Trump's <a href="/wiki/Proclamation_10043" title="Proclamation 10043">entry restrictions on Chinese students</a> in addition to the travel complications produced by the COVID-19 pandemic reduced the number of Chinese students enrolling in many American colleges and universities.<a href="#cite_note-117">[117]</a><a href="#cite_note-:80-114">[114]</a> A 2023 report produced by the <a href="/wiki/Institute_of_International_Education" title="Institute of International Education">Institute of International Education</a> said that international student enrollment for the 2022–2023 academic year in American higher education institutions had exceeded pre-pandemic levels, with strong growth coming from India and sub-Saharan Africa and overall enrollment growing at its fastest rate in 40 years.<a href="#cite_note-118">[118]</a> Nevertheless, dependency on foreign students threatened the future of many American schools, which had hitherto been assuming that the number of international applicants would keep growing.<a href="#cite_note-119">[119]</a> Falling demand for higher education in the United States will force this industry to become more innovative, which is something it has not been traditionally good at. Moreover, as the <a href="/wiki/Teenage_pregnancy_in_the_United_States" title="Teenage pregnancy in the United States">birth rates of teenagers</a> and the lower classes continues to fall while women with higher incomes and education are having more children, students in the future will be less likely to have to rely on loans.<a href="#cite_note-:23-83">[83]</a> <div class="mw-heading mw-heading2"><h2 id="Controversy">Controversy</h2>[<a href="/w/index.php?title=Higher_education_bubble_in_the_United_States&action=edit&section=4" title="Edit section: Controversy">edit</a>]</div> <figure class="mw-default-size" typeof="mw:File/Thumb"><a href="/wiki/File:College_Degree_Returns_by_Annual_Cost.png" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/3/31/College_Degree_Returns_by_Annual_Cost.png/220px-College_Degree_Returns_by_Annual_Cost.png" decoding="async" width="220" height="177" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/3/31/College_Degree_Returns_by_Annual_Cost.png/330px-College_Degree_Returns_by_Annual_Cost.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/3/31/College_Degree_Returns_by_Annual_Cost.png/440px-College_Degree_Returns_by_Annual_Cost.png 2x" data-file-width="724" data-file-height="582" /></a><figcaption>College Degree Returns by Average 2011 Annual Out-of-Pocket Costs, from B. Caplan's The Case Against Education</figcaption></figure> <figure class="mw-default-size" typeof="mw:File/Thumb"><a href="/wiki/File:First-year_College_Degree_Returns_by_Major.png" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/2/2c/First-year_College_Degree_Returns_by_Major.png/220px-First-year_College_Degree_Returns_by_Major.png" decoding="async" width="220" height="221" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/2/2c/First-year_College_Degree_Returns_by_Major.png/330px-First-year_College_Degree_Returns_by_Major.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/2/2c/First-year_College_Degree_Returns_by_Major.png/440px-First-year_College_Degree_Returns_by_Major.png 2x" data-file-width="479" data-file-height="481" /></a><figcaption>First-year U.S. college degree returns for select majors, by type of student</figcaption></figure> <figure class="mw-default-size" typeof="mw:File/Thumb"><a href="/wiki/File:College_Tuition_State_Funding.svg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/1/18/College_Tuition_State_Funding.svg/220px-College_Tuition_State_Funding.svg.png" decoding="async" width="220" height="153" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/1/18/College_Tuition_State_Funding.svg/330px-College_Tuition_State_Funding.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/1/18/College_Tuition_State_Funding.svg/440px-College_Tuition_State_Funding.svg.png 2x" data-file-width="557" data-file-height="388" /></a><figcaption>Study comparing college revenue per student by tuition and state funding in 2008 dollars<a href="#cite_note-DeltaCost-120">[120]</a></figcaption></figure> The view that higher education is a bubble is debated. Some <a href="/wiki/Economists" class="mw-redirect" title="Economists">economists</a> do not think that <a href="/wiki/Rate_of_return" title="Rate of return">returns</a> to a college education are falling but instead believe that the benefits far outweigh the costs.<a href="#cite_note-Simkovic-17">[17]</a><a href="#cite_note-Thomas_Lemieux_2006-18">[18]</a><a href="#cite_note-chronicle.com-19">[19]</a> Others argue that <a href="/wiki/Survivorship_bias" title="Survivorship bias">survival bias</a> is not accounted for, given those who <a href="/wiki/Dropping_out" title="Dropping out">dropped out</a> did not receive a degree but may have student loans to pay off, and that the benefits are only for those who graduate.<a href="#cite_note-121">[121]</a> As of 2012, 29% of student debtors never graduated, and those who did could take decades to pay back the money they owed.<a href="#cite_note-:21-58">[58]</a> Also, the returns for marginal students or students in certain majors, especially at costly private universities, may not justify the investment.<a href="#cite_note-122">[122]</a> It has been suggested that the returns to education should be compared to the returns to other forms of investment such as the stock market, bonds, real estate, and private equity. A higher return would suggest underinvestment in higher education, but lower returns would suggest a bubble.<a href="#cite_note-123">[123]</a> Studies have typically found a causal relationship between growth and education, although the quality and type of education matters, and not just the number of years of schooling.<a href="#cite_note-124">[124]</a><a href="#cite_note-125">[125]</a><a href="#cite_note-126">[126]</a><a href="#cite_note-127">[127]</a> In a <a href="/wiki/Financial_bubble" class="mw-redirect" title="Financial bubble">financial bubble</a>, assets like houses are sometimes purchased with a view to reselling at a higher price, and this can produce rapidly escalating prices as people speculate on future prices. An end to the spiral can provoke abrupt selling of the assets, resulting in an abrupt collapse in price – the bursting of the bubble. Because the asset acquired through college attendance – a higher education – cannot be sold but only rented through wages, there is no similar mechanism that would cause an abrupt collapse in the value of existing degrees. For this reason, this analogy could be misleading. However, one rebuttal to the claims that a bubble analogy is misleading is the observation that the 'bursting' of the bubble are the negative effects on students who incur student debt, for example, as the <a href="/wiki/American_Association_of_State_Colleges_and_Universities" title="American Association of State Colleges and Universities">American Association of State Colleges and Universities</a> reports that "Students are deeper in debt today than ever before.... The trend of heavy debt burdens threatens to limit access to higher education, particularly for low-income and first-generation students, who tend to carry the heaviest debt burden. Federal student aid policy has steadily put resources into student loan programs rather than need-based grants, a trend that straps future generations with high debt burdens. Even students who receive federal grant aid are finding it more difficult to pay for college."<a href="#cite_note-128">[128]</a> However, the data actually show that notwithstanding a slight increase in 2008–2009, student loan default rates have declined since the mid-1980s and 1990s.<a href="#cite_note-phys.org-52">[52]</a><a href="#cite_note-Kirkham-53">[53]</a> During both periods of growth and recession, those with college degrees are much less likely than those without to be unemployed, even though they earn higher wages.<a href="#cite_note-Education_Pays-65">[65]</a> <a href="/wiki/Ohio_University" title="Ohio University">Ohio University</a> economist <a href="/wiki/Richard_Vedder" title="Richard Vedder">Richard Vedder</a> has written in <a href="/wiki/The_Wall_Street_Journal" title="The Wall Street Journal">The Wall Street Journal</a> that: <style data-mw-deduplicate="TemplateStyles:r1244412712">.mw-parser-output .templatequote{overflow:hidden;margin:1em 0;padding:0 32px}.mw-parser-output .templatequotecite{line-height:1.5em;text-align:left;margin-top:0}@media(min-width:500px){.mw-parser-output .templatequotecite{padding-left:1.6em}}</style><blockquote class="templatequote">A key measure of the benefits of a degree is the college graduate's earning potential – and on this score, their advantage over high-school graduates is deteriorating. Since 2006, the gap between what the <a href="/wiki/Median" title="Median">median</a> college graduate earned compared with the median high-school graduate has narrowed by $1,387 for men over 25 working full time, a 5% fall. Women in the same category have fared worse, losing 7% of their income advantage ($1,496). A college degree's declining value is even more pronounced for younger Americans. According to data collected by the <a href="/wiki/College_Board" title="College Board">College Board</a>, for those in the 25–34 age range, the differential between college graduate and high school graduate earnings fell 11% for men, to $18,303 from $20,623. The decline for women was an extraordinary 19.7%, to $14,868 from $18,525. Meanwhile, the cost of college has increased 16.5% in 2012 dollars since 2006, according to the <a href="/wiki/Bureau_of_Labor_Statistics" title="Bureau of Labor Statistics">Bureau of Labor Statistics</a>' higher education tuition-fee index.<a href="#cite_note-129">[129]</a></blockquote> <div class="mw-heading mw-heading3"><h3 id="Alternatives_to_bubble_hypothesis">Alternatives to bubble hypothesis</h3>[<a href="/w/index.php?title=Higher_education_bubble_in_the_United_States&action=edit&section=5" title="Edit section: Alternatives to bubble hypothesis">edit</a>]</div> A different explanation for rising tuition is the reduction of state and federal appropriations to colleges, making them more reliant on student tuition. Thus, it is not a bubble but a form of <a href="/wiki/Cost-shifting" title="Cost-shifting">shifting costs</a> away from state and federal funding over to students.<a href="#cite_note-24tuition-130">[130]</a> This has mostly applied to public universities which in 2011 for the first time have taken in more in tuition than in state funding<a href="#cite_note-24tuition-130">[130]</a> and had the greatest increases in tuition.<a href="#cite_note-DeltaCost-120">[120]</a> Implied from this shift away from public funding to tuition is <a href="/wiki/Privatization" title="Privatization">privatization</a>, although <a href="/wiki/The_New_York_Times" title="The New York Times">The New York Times</a> reported that such claims are exaggerated.<a href="#cite_note-24tuition-130">[130]</a> A second hypothesis claims that as a result of federal law that severely restricts the ability of students to discharge their federally guaranteed student loans in bankruptcy, lenders and colleges know that students are on the hook for any amount that they borrow, including late fees and interest (which can be capitalized and increase the principal loan amount), thus removing the incentive to only provide students loans that the students can be reasonably expected to repay.<a href="#cite_note-131">[131]</a><a href="#cite_note-132">[132]</a> As evidence for this hypothesis, it has been suggested that returning bankruptcy protections (and other standard consumer protections) to student loans would cause lenders to be more cautious, thereby causing a sharp decline in the availability of student loans, which, in turn, would decrease the influx of dollars to colleges and universities, who, in turn, would have to sharply decrease tuition to match the lower availability of funds.<a href="#cite_note-Why_College_Prices_Keep_Rising-133">[133]</a> Economic and social commentator <a href="/wiki/Gary_North_(economist)" title="Gary North (economist)">Gary North</a> has remarked at <a href="/wiki/LewRockwell.com" class="mw-redirect" title="LewRockwell.com">LewRockwell.com</a>, "To speak of college as a bubble is silly. A bubble does not pop until months or years after the funding ceases. There is no indication that the funding for college education will cease."<a href="#cite_note-north-134">[134]</a> <a href="/wiki/Azar_Nafisi" title="Azar Nafisi">Azar Nafisi</a>, <a href="/wiki/Johns_Hopkins_University" title="Johns Hopkins University">Johns Hopkins University</a> professor and bestselling author of <a href="/wiki/Reading_Lolita_in_Tehran" title="Reading Lolita in Tehran">Reading Lolita in Tehran</a>, has stated on the <a href="/wiki/PBS_NewsHour" class="mw-redirect" title="PBS NewsHour">PBS NewsHour</a> that a purely economic analysis of a higher education bubble is incomplete: <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1244412712"><blockquote class="templatequote">Universities become sort of like canaries in the mine for a culture. They become the sort of standard of where culture is going. The dynamism, the originality of these entrepreneurial experiences, the fact that society allows people to be original, to take risks, all of it comes from a passionate love of knowledge. And universities represent all the different areas and fields within a society. And the students and faculty come from all these fields. This is a community that represents the best that a society has to offer. And there was a mention of our universities being the best in the world.<a href="#cite_note-newshour-135">[135]</a></blockquote> <div class="mw-heading mw-heading2"><h2 id="See_also">See also</h2>[<a href="/w/index.php?title=Higher_education_bubble_in_the_United_States&action=edit&section=6" title="Edit section: See also">edit</a>]</div> <style data-mw-deduplicate="TemplateStyles:r1239009302">.mw-parser-output .portalbox{padding:0;margin:0.5em 0;display:table;box-sizing:border-box;max-width:175px;list-style:none}.mw-parser-output .portalborder{border:1px solid var(--border-color-base,#a2a9b1);padding:0.1em;background:var(--background-color-neutral-subtle,#f8f9fa)}.mw-parser-output .portalbox-entry{display:table-row;font-size:85%;line-height:110%;height:1.9em;font-style:italic;font-weight:bold}.mw-parser-output .portalbox-image{display:table-cell;padding:0.2em;vertical-align:middle;text-align:center}.mw-parser-output .portalbox-link{display:table-cell;padding:0.2em 0.2em 0.2em 0.3em;vertical-align:middle}@media(min-width:720px){.mw-parser-output .portalleft{clear:left;float:left;margin:0.5em 1em 0.5em 0}.mw-parser-output .portalright{clear:right;float:right;margin:0.5em 0 0.5em 1em}}</style><ul role="navigation" aria-label="Portals" class="noprint portalbox portalborder portalright"> <li class="portalbox-entry"><a href="/wiki/File:IPhone_5.svg" class="mw-file-description"><img alt="icon" src="//upload.wikimedia.org/wikipedia/commons/thumb/8/87/IPhone_5.svg/13px-IPhone_5.svg.png" decoding="async" width="13" height="28" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/8/87/IPhone_5.svg/20px-IPhone_5.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/8/87/IPhone_5.svg/26px-IPhone_5.svg.png 2x" data-file-width="2182" data-file-height="4578" /></a><a href="/wiki/Portal:2010s" title="Portal:2010s">2010s portal</a></li><li class="portalbox-entry"><img alt="icon" src="//upload.wikimedia.org/wikipedia/commons/thumb/9/9a/Klepsydra-pt.svg/25px-Klepsydra-pt.svg.png" decoding="async" width="25" height="28" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/9/9a/Klepsydra-pt.svg/37px-Klepsydra-pt.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/9/9a/Klepsydra-pt.svg/50px-Klepsydra-pt.svg.png 2x" data-file-width="244" data-file-height="275" /><a href="/wiki/Portal:2020s" class="mw-redirect" title="Portal:2020s">2020s portal</a></li><li class="portalbox-entry"><a href="/wiki/File:Emblem-money.svg" class="mw-file-description"><img alt="icon" src="//upload.wikimedia.org/wikipedia/commons/thumb/f/f3/Emblem-money.svg/28px-Emblem-money.svg.png" decoding="async" width="28" height="28" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/f/f3/Emblem-money.svg/42px-Emblem-money.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/f/f3/Emblem-money.svg/56px-Emblem-money.svg.png 2x" data-file-width="48" data-file-height="48" /></a><a href="/wiki/Portal:Economics" title="Portal:Economics">Economics portal</a></li><li class="portalbox-entry"><a href="/wiki/File:Diploma_icon.png" class="mw-file-description"><img alt="icon" src="//upload.wikimedia.org/wikipedia/commons/thumb/7/76/Diploma_icon.png/28px-Diploma_icon.png" decoding="async" width="28" height="28" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/7/76/Diploma_icon.png/42px-Diploma_icon.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/7/76/Diploma_icon.png/56px-Diploma_icon.png 2x" data-file-width="128" data-file-height="128" /></a><a href="/wiki/Portal:Education" class="mw-redirect" title="Portal:Education">Education portal</a></li><li class="portalbox-entry"><img alt="flag" src="//upload.wikimedia.org/wikipedia/en/thumb/a/a4/Flag_of_the_United_States.svg/32px-Flag_of_the_United_States.svg.png" decoding="async" width="32" height="17" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/a/a4/Flag_of_the_United_States.svg/48px-Flag_of_the_United_States.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/a/a4/Flag_of_the_United_States.svg/64px-Flag_of_the_United_States.svg.png 2x" data-file-width="1235" data-file-height="650" /><a href="/wiki/Portal:United_States" title="Portal:United States">United States portal</a></li></ul> <ul><li><a href="/wiki/College_admissions_in_the_United_States" title="College admissions in the United States">College admissions in the United States</a></li> <li><a href="/wiki/College_tuition_in_the_United_States" title="College tuition in the United States">College tuition in the United States</a></li> <li><a href="/wiki/Credentialism" class="mw-redirect" title="Credentialism">Credentialism</a></li> <li><a href="/wiki/Economic_bubble" title="Economic bubble">Economic bubble</a></li> <li><a href="/wiki/EdFund" title="EdFund">EdFund</a></li> <li><a href="/wiki/Elite_overproduction" title="Elite overproduction">Elite overproduction</a></li> <li><a href="/wiki/Free_education" title="Free education">Free education</a></li> <li><a href="/wiki/Higher_Education_Price_Index" title="Higher Education Price Index">Higher Education Price Index</a></li> <li><a href="/wiki/Higher_education_in_China#Challenges" title="Higher education in China">Higher education problems in China</a></li> <li><a href="/wiki/Education_in_South_Korea#Controversy_and_criticism" title="Education in South Korea">Higher education problems in South Korea</a></li> <li><a href="/wiki/Neijuan" title="Neijuan">Neijuan</a></li></ul> <div class="mw-heading mw-heading2"><h2 id="References">References</h2>[<a href="/w/index.php?title=Higher_education_bubble_in_the_United_States&action=edit&section=7" title="Edit section: References">edit</a>]</div> <style data-mw-deduplicate="TemplateStyles:r1239543626">.mw-parser-output .reflist{margin-bottom:0.5em;list-style-type:decimal}@media screen{.mw-parser-output .reflist{font-size:90%}}.mw-parser-output .reflist .references{font-size:100%;margin-bottom:0;list-style-type:inherit}.mw-parser-output .reflist-columns-2{column-width:30em}.mw-parser-output .reflist-columns-3{column-width:25em}.mw-parser-output .reflist-columns{margin-top:0.3em}.mw-parser-output .reflist-columns ol{margin-top:0}.mw-parser-output .reflist-columns li{page-break-inside:avoid;break-inside:avoid-column}.mw-parser-output .reflist-upper-alpha{list-style-type:upper-alpha}.mw-parser-output .reflist-upper-roman{list-style-type:upper-roman}.mw-parser-output .reflist-lower-alpha{list-style-type:lower-alpha}.mw-parser-output .reflist-lower-greek{list-style-type:lower-greek}.mw-parser-output .reflist-lower-roman{list-style-type:lower-roman}</style><div class="reflist reflist-columns references-column-width reflist-columns-2"> <ol class="references"> <li id="cite_note-1"><a href="#cite_ref-1">^</a> <style data-mw-deduplicate="TemplateStyles:r1238218222">.mw-parser-output cite.citation{font-style:inherit;word-wrap:break-word}.mw-parser-output .citation q{quotes:"\"""\"""'""'"}.mw-parser-output .citation:target{background-color:rgba(0,127,255,0.133)}.mw-parser-output .id-lock-free.id-lock-free a{background:url("//upload.wikimedia.org/wikipedia/commons/6/65/Lock-green.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-limited.id-lock-limited a,.mw-parser-output .id-lock-registration.id-lock-registration a{background:url("//upload.wikimedia.org/wikipedia/commons/d/d6/Lock-gray-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-subscription.id-lock-subscription a{background:url("//upload.wikimedia.org/wikipedia/commons/a/aa/Lock-red-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .cs1-ws-icon a{background:url("//upload.wikimedia.org/wikipedia/commons/4/4c/Wikisource-logo.svg")right 0.1em center/12px no-repeat}body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-free a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-limited a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-registration a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-subscription a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .cs1-ws-icon a{background-size:contain;padding:0 1em 0 0}.mw-parser-output .cs1-code{color:inherit;background:inherit;border:none;padding:inherit}.mw-parser-output .cs1-hidden-error{display:none;color:var(--color-error,#d33)}.mw-parser-output .cs1-visible-error{color:var(--color-error,#d33)}.mw-parser-output .cs1-maint{display:none;color:#085;margin-left:0.3em}.mw-parser-output .cs1-kern-left{padding-left:0.2em}.mw-parser-output .cs1-kern-right{padding-right:0.2em}.mw-parser-output .citation .mw-selflink{font-weight:inherit}@media screen{.mw-parser-output .cs1-format{font-size:95%}html.skin-theme-clientpref-night .mw-parser-output .cs1-maint{color:#18911f}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .cs1-maint{color:#18911f}}</style><cite id="CITEREFArchibaldFeldman2006" class="citation journal cs1">Archibald, Robert B.; Feldman, David (David H.) (2006). <a rel="nofollow" class="external text" href="http://economics.wm.edu/wp/cwm_wp10.pdf">"State Higher Education Spending and the Tax Revolt"</a> (PDF). The Journal of Higher Education. 77 (4): 618–644. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.1353%2Fjhe.2006.0029">10.1353/jhe.2006.0029</a>. <a href="/wiki/ISSN_(identifier)" class="mw-redirect" title="ISSN (identifier)">ISSN</a> <a rel="nofollow" class="external text" href="https://search.worldcat.org/issn/1538-4640">1538-4640</a>. <a href="/wiki/S2CID_(identifier)" class="mw-redirect" title="S2CID (identifier)">S2CID</a> <a rel="nofollow" class="external text" href="https://api.semanticscholar.org/CorpusID:154906564">154906564</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+Journal+of+Higher+Education&rft.atitle=State+Higher+Education+Spending+and+the+Tax+Revolt&rft.volume=77&rft.issue=4&rft.pages=618-644&rft.date=2006&rft_id=https%3A%2F%2Fapi.semanticscholar.org%2FCorpusID%3A154906564%23id-name%3DS2CID&rft.issn=1538-4640&rft_id=info%3Adoi%2F10.1353%2Fjhe.2006.0029&rft.aulast=Archibald&rft.aufirst=Robert+B.&rft.au=Feldman%2C+David+%28David+H.%29&rft_id=http%3A%2F%2Feconomics.wm.edu%2Fwp%2Fcwm_wp10.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-2"><a href="#cite_ref-2">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFBarshay2014" class="citation web cs1">Barshay, Jill (August 4, 2014). <a rel="nofollow" class="external text" href="http://educationbythenumbers.org/content/underemployment-college-grads_1589/">"Reflections on the underemployment of college graduates"</a>. Hechniger Report. Teachers College at Columbia University. Retrieved March 30, 2015.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=Hechniger+Report&rft.atitle=Reflections+on+the+underemployment+of+college+graduates&rft.date=2014-08-04&rft.aulast=Barshay&rft.aufirst=Jill&rft_id=http%3A%2F%2Feducationbythenumbers.org%2Fcontent%2Funderemployment-college-grads_1589%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-3"><a href="#cite_ref-3">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFCoatesMorrison2016" class="citation cs2">Coates, Ken; Morrison, Bill (2016), <a rel="nofollow" class="external text" href="https://web.archive.org/web/20160601084152/https://www.dundurn.com/books/Dream-Factories">Dream Factories: Why Universities Won't Solve the Youth Jobs Crisis</a>, Toronto: Dundurn Press, p. 232, <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-1459733770" title="Special:BookSources/978-1459733770"><bdi>978-1459733770</bdi></a>, archived from <a rel="nofollow" class="external text" href="https://www.dundurn.com/books/Dream-Factories">the original</a> on June 1, 2016, retrieved June 9, 2016</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Dream+Factories%3A+Why+Universities+Won%27t+Solve+the+Youth+Jobs+Crisis&rft.place=Toronto&rft.pages=232&rft.pub=Dundurn+Press&rft.date=2016&rft.isbn=978-1459733770&rft.aulast=Coates&rft.aufirst=Ken&rft.au=Morrison%2C+Bill&rft_id=https%3A%2F%2Fwww.dundurn.com%2Fbooks%2FDream-Factories&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-:11-4">^ <a href="#cite_ref-:11_4-0">a</a> <a href="#cite_ref-:11_4-1">b</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFEpperson2014" class="citation news cs1">Epperson, Sharon (September 11, 2014). <a rel="nofollow" class="external text" href="https://www.cnbc.com/2014/09/11/a-higher-ed-bubble-even-bigger-than-student-loans.html">"A higher-ed bubble even bigger than student loans"</a>. CNBC. Retrieved April 11, 2023.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=CNBC&rft.atitle=A+higher-ed+bubble+even+bigger+than+student+loans&rft.date=2014-09-11&rft.aulast=Epperson&rft.aufirst=Sharon&rft_id=https%3A%2F%2Fwww.cnbc.com%2F2014%2F09%2F11%2Fa-higher-ed-bubble-even-bigger-than-student-loans.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-:10-5">^ <a href="#cite_ref-:10_5-0">a</a> <a href="#cite_ref-:10_5-1">b</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation news cs1"><a rel="nofollow" class="external text" href="https://archive.today/20230405200454/https://www.economist.com/leaders/2023/04/05/the-university-lottery">"The university lottery"</a>. The Economist. April 5, 2023. Archived from <a rel="nofollow" class="external text" href="https://www.economist.com/leaders/2023/04/05/the-university-lottery">the original</a> on April 5, 2023. Retrieved April 11, 2023.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+Economist&rft.atitle=The+university+lottery&rft.date=2023-04-05&rft_id=https%3A%2F%2Fwww.economist.com%2Fleaders%2F2023%2F04%2F05%2Fthe-university-lottery&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-:12-6">^ <a href="#cite_ref-:12_6-0">a</a> <a href="#cite_ref-:12_6-1">b</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFBurke2023" class="citation news cs1">Burke, Lilah (January 21, 2023). <a rel="nofollow" class="external text" href="https://hechingerreport.org/states-step-in-to-provide-information-about-the-return-for-students-on-a-college-education/">"What's a college degree worth? States start to demand colleges share the data"</a>. Hechinger Report. Retrieved April 11, 2023.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Hechinger+Report&rft.atitle=What%27s+a+college+degree+worth%3F+States+start+to+demand+colleges+share+the+data.&rft.date=2023-01-21&rft.aulast=Burke&rft.aufirst=Lilah&rft_id=https%3A%2F%2Fhechingerreport.org%2Fstates-step-in-to-provide-information-about-the-return-for-students-on-a-college-education%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-7"><a href="#cite_ref-7">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation news cs1"><a rel="nofollow" class="external text" href="https://www.reuters.com/article/us-usa-budget-republicans-idUSKBN0MD1KU20150317">"U.S. Republican budget cuts social spending, boosts military"</a>. Reuters. March 17, 2015. Retrieved May 9, 2016.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Reuters&rft.atitle=U.S.+Republican+budget+cuts+social+spending%2C+boosts+military&rft.date=2015-03-17&rft_id=https%3A%2F%2Fwww.reuters.com%2Farticle%2Fus-usa-budget-republicans-idUSKBN0MD1KU20150317&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-8"><a href="#cite_ref-8">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="http://www.debate.org/opinions/should-the-u-s-cut-spending-on-education-yes-or-the-military-no">"Should the U.S. cut spending on education (yes) or the military (no)?"</a>. www.debate.org. Retrieved May 9, 2016.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=www.debate.org&rft.atitle=Should+the+U.S.+cut+spending+on+education+%28yes%29+or+the+military+%28no%29%3F&rft_id=http%3A%2F%2Fwww.debate.org%2Fopinions%2Fshould-the-u-s-cut-spending-on-education-yes-or-the-military-no&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-9"><a href="#cite_ref-9">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="http://www.kansascity.com/news/politics-government/article63347152.html">"Gov. Sam Brownback cuts higher education as Kansas tax receipts fall $53 million short"</a>. kansascity. Retrieved May 9, 2016.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=kansascity&rft.atitle=Gov.+Sam+Brownback+cuts+higher+education+as+Kansas+tax+receipts+fall+%2453+million+short&rft_id=http%3A%2F%2Fwww.kansascity.com%2Fnews%2Fpolitics-government%2Farticle63347152.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-10"><a href="#cite_ref-10">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="http://www.cbpp.org/research/changing-priorities-state-criminal-justice-reforms-and-investments-in-education">"Changing Priorities: State Criminal Justice Reforms and Investments in Education | Center on Budget and Policy Priorities"</a>. www.cbpp.org. Retrieved May 9, 2016.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=www.cbpp.org&rft.atitle=Changing+Priorities%3A+State+Criminal+Justice+Reforms+and+Investments+in+Education+%7C+Center+on+Budget+and+Policy+Priorities&rft_id=http%3A%2F%2Fwww.cbpp.org%2Fresearch%2Fchanging-priorities-state-criminal-justice-reforms-and-investments-in-education&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-11"><a href="#cite_ref-11">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFTurchin2016" class="citation news cs1">Turchin, Peter (December 27, 2016). <a rel="nofollow" class="external text" href="https://today.uconn.edu/2016/12/using-social-science-to-predict-the-future/">"Social Instability Lies Ahead, Researcher Says"</a>. UConn Today. Retrieved September 16, 2022.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=UConn+Today&rft.atitle=Social+Instability+Lies+Ahead%2C+Researcher+Says&rft.date=2016-12-27&rft.aulast=Turchin&rft.aufirst=Peter&rft_id=https%3A%2F%2Ftoday.uconn.edu%2F2016%2F12%2Fusing-social-science-to-predict-the-future%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-Smith-12">^ <a href="#cite_ref-Smith_12-0">a</a> <a href="#cite_ref-Smith_12-1">b</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFSmith2021" class="citation news cs1">Smith, Noah (January 4, 2021). <a rel="nofollow" class="external text" href="https://web.archive.org/web/20210113115056/https://www.bloomberg.com/opinion/articles/2021-01-04/america-is-pumping-out-too-many-ph-d-s">"America Is Pumping Out Too Many Ph.D.s"</a>. Bloomberg. Archived from <a rel="nofollow" class="external text" href="https://www.bloomberg.com/opinion/articles/2021-01-04/america-is-pumping-out-too-many-ph-d-s">the original</a> on January 13, 2021. Retrieved September 23, 2021.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Bloomberg&rft.atitle=America+Is+Pumping+Out+Too+Many+Ph.D.s&rft.date=2021-01-04&rft.aulast=Smith&rft.aufirst=Noah&rft_id=https%3A%2F%2Fwww.bloomberg.com%2Fopinion%2Farticles%2F2021-01-04%2Famerica-is-pumping-out-too-many-ph-d-s&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-:32-13"><a href="#cite_ref-:32_13-0">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFPacker2021" class="citation web cs1">Packer, George (June 8, 2021). <a rel="nofollow" class="external text" href="https://www.theatlantic.com/magazine/archive/2021/07/george-packer-four-americas/619012/">"How America Fractured Into Four Parts"</a>. The Atlantic. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20210608111625/https://www.theatlantic.com/magazine/archive/2021/07/george-packer-four-americas/619012/">Archived</a> from the original on June 8, 2021. Retrieved June 10, 2021.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=The+Atlantic&rft.atitle=How+America+Fractured+Into+Four+Parts&rft.date=2021-06-08&rft.aulast=Packer&rft.aufirst=George&rft_id=https%3A%2F%2Fwww.theatlantic.com%2Fmagazine%2Farchive%2F2021%2F07%2Fgeorge-packer-four-americas%2F619012%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-:27-14"><a href="#cite_ref-:27_14-0">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFHobsbawm1996" class="citation book cs1"><a href="/wiki/Eric_Hobsbawm" title="Eric Hobsbawm">Hobsbawm, Eric</a> (1996). "Chapter Ten: Social Revolution 1945-1990". The Age of Extremes: The Short Twentieth Century 1914–1991. Abacus. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/9780349106717" title="Special:BookSources/9780349106717"><bdi>9780349106717</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=bookitem&rft.atitle=Chapter+Ten%3A+Social+Revolution+1945-1990&rft.btitle=The+Age+of+Extremes%3A+The+Short+Twentieth+Century+1914%E2%80%931991&rft.pub=Abacus&rft.date=1996&rft.isbn=9780349106717&rft.aulast=Hobsbawm&rft.aufirst=Eric&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-15"><a href="#cite_ref-15">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFGaddis2005" class="citation book cs1"><a href="/wiki/John_Lewis_Gaddis" title="John Lewis Gaddis">Gaddis, John Lewis</a> (2005). "IV: The Emergence of Autonomy". The Cold War: A New History. Penguin Books. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0143038276" title="Special:BookSources/978-0143038276"><bdi>978-0143038276</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=bookitem&rft.atitle=IV%3A+The+Emergence+of+Autonomy&rft.btitle=The+Cold+War%3A+A+New+History&rft.pub=Penguin+Books&rft.date=2005&rft.isbn=978-0143038276&rft.aulast=Gaddis&rft.aufirst=John+Lewis&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-:15-16"><a href="#cite_ref-:15_16-0">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFSuri2009" class="citation journal cs1">Suri, Jeremi (February 2009). <a rel="nofollow" class="external text" href="https://doi.org/10.1086%2Fahr.114.1.45">"The Rise and Fall of an International Counterculture, 1960-1975"</a>. American Historical Review. 114 (1): 45–68. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.1086%2Fahr.114.1.45">10.1086/ahr.114.1.45</a>. <a href="/wiki/JSTOR_(identifier)" class="mw-redirect" title="JSTOR (identifier)">JSTOR</a> <a rel="nofollow" class="external text" href="https://www.jstor.org/stable/30223643">30223643</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=American+Historical+Review&rft.atitle=The+Rise+and+Fall+of+an+International+Counterculture%2C+1960-1975&rft.volume=114&rft.issue=1&rft.pages=45-68&rft.date=2009-02&rft_id=info%3Adoi%2F10.1086%2Fahr.114.1.45&rft_id=https%3A%2F%2Fwww.jstor.org%2Fstable%2F30223643%23id-name%3DJSTOR&rft.aulast=Suri&rft.aufirst=Jeremi&rft_id=https%3A%2F%2Fdoi.org%2F10.1086%252Fahr.114.1.45&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-Simkovic-17">^ <a href="#cite_ref-Simkovic_17-0">a</a> <a href="#cite_ref-Simkovic_17-1">b</a> <a href="#cite_ref-Simkovic_17-2">c</a> <a href="#cite_ref-Simkovic_17-3">d</a> Michael Simkovic, <a rel="nofollow" class="external text" href="http://ssrn.com/abstract=1941070">Risk-Based Student Loans</a> (2012) </li> <li id="cite_note-Thomas_Lemieux_2006-18">^ <a href="#cite_ref-Thomas_Lemieux_2006_18-0">a</a> <a href="#cite_ref-Thomas_Lemieux_2006_18-1">b</a> <a href="#cite_ref-Thomas_Lemieux_2006_18-2">c</a> Thomas Lemieux, Postsecondary Education And Increasing Wage Inequality, 96 AM. ECON. REVIEW 195 (2006) </li> <li id="cite_note-chronicle.com-19">^ <a href="#cite_ref-chronicle.com_19-0">a</a> <a href="#cite_ref-chronicle.com_19-1">b</a> <a href="#cite_ref-chronicle.com_19-2">c</a> Sandy Baum and Michael McPherson, <a rel="nofollow" class="external text" href="http://chronicle.com/blogs/innovations/job-skill-trendsthe-college-wage-premium/27091">Job-Skill Trends and the College-Wage Premium</a>, Chronicle of Higher Education, Sept. 21, 2010 </li> <li id="cite_note-20"><a href="#cite_ref-20">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFSingletary2020" class="citation news cs1">Singletary, Michelle (January 11, 2020). <a rel="nofollow" class="external text" href="https://www.washingtonpost.com/business/personal-finance/is-college-still-worth-it-read-this-study/2020/01/10/b9894514-3330-11ea-91fd-82d4e04a3fac_story.html">"Is college still worth it? Read this study"</a>. The Washington Post. Retrieved January 12, 2020.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+Washington+Post&rft.atitle=Is+college+still+worth+it%3F+Read+this+study.&rft.date=2020-01-11&rft.aulast=Singletary&rft.aufirst=Michelle&rft_id=https%3A%2F%2Fwww.washingtonpost.com%2Fbusiness%2Fpersonal-finance%2Fis-college-still-worth-it-read-this-study%2F2020%2F01%2F10%2Fb9894514-3330-11ea-91fd-82d4e04a3fac_story.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-:66-21"><a href="#cite_ref-:66_21-0">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation news cs1"><a rel="nofollow" class="external text" href="https://www.cbsnews.com/news/expert-predicts-25-percent-of-colleges-will-fail-in-the-next-20-years-2019-08-31/">"Expert predicts 25% of colleges will "fail" in the next 20 years"</a>. CBS News. August 31, 2019. Retrieved August 28, 2019.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=CBS+News&rft.atitle=Expert+predicts+25%25+of+colleges+will+%22fail%22+in+the+next+20+years&rft.date=2019-08-31&rft_id=https%3A%2F%2Fwww.cbsnews.com%2Fnews%2Fexpert-predicts-25-percent-of-colleges-will-fail-in-the-next-20-years-2019-08-31%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-:262-22">^ <a href="#cite_ref-:262_22-0">a</a> <a href="#cite_ref-:262_22-1">b</a> <a href="#cite_ref-:262_22-2">c</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFBelkin2021" class="citation news cs1">Belkin, Douglas (September 6, 2021). <a rel="nofollow" class="external text" href="https://www.wsj.com/articles/college-university-fall-higher-education-men-women-enrollment-admissions-back-to-school-11630948233">"A Generation of American Men Give Up on College: 'I Just Feel Lost'"</a>. The Wall Street Journal. Retrieved September 11, 2021.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+Wall+Street+Journal&rft.atitle=A+Generation+of+American+Men+Give+Up+on+College%3A+%27I+Just+Feel+Lost%27&rft.date=2021-09-06&rft.aulast=Belkin&rft.aufirst=Douglas&rft_id=https%3A%2F%2Fwww.wsj.com%2Farticles%2Fcollege-university-fall-higher-education-men-women-enrollment-admissions-back-to-school-11630948233&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-:672-23">^ <a href="#cite_ref-:672_23-0">a</a> <a href="#cite_ref-:672_23-1">b</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFCohn2019" class="citation news cs1">Cohn, Scott (December 3, 2019). <a rel="nofollow" class="external text" href="https://www.cnbc.com/2019/12/03/the-other-college-debt-crisis-schools-are-going-broke.html">"The other college debt crisis: Schools are going broke"</a>. Education. CNBC. Retrieved January 29, 2020.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=CNBC&rft.atitle=The+other+college+debt+crisis%3A+Schools+are+going+broke&rft.date=2019-12-03&rft.aulast=Cohn&rft.aufirst=Scott&rft_id=https%3A%2F%2Fwww.cnbc.com%2F2019%2F12%2F03%2Fthe-other-college-debt-crisis-schools-are-going-broke.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-:3-24">^ <a href="#cite_ref-:3_24-0">a</a> <a href="#cite_ref-:3_24-1">b</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFSolman2019" class="citation news cs1">Solman, Paul (March 28, 2019). <a rel="nofollow" class="external text" href="https://www.pbs.org/newshour/show/anxious-about-debt-generation-z-makes-college-choice-a-financial-one">"Anxious about debt, Generation Z makes college choice a financial one"</a>. PBS Newshour. Retrieved May 12, 2019.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=PBS+Newshour&rft.atitle=Anxious+about+debt%2C+Generation+Z+makes+college+choice+a+financial+one&rft.date=2019-03-28&rft.aulast=Solman&rft.aufirst=Paul&rft_id=https%3A%2F%2Fwww.pbs.org%2Fnewshour%2Fshow%2Fanxious-about-debt-generation-z-makes-college-choice-a-financial-one&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-:25-25">^ <a href="#cite_ref-:25_25-0">a</a> <a href="#cite_ref-:25_25-1">b</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFBrenan2023" class="citation news cs1">Brenan, Megan (July 11, 2023). <a rel="nofollow" class="external text" href="https://news.gallup.com/poll/508352/americans-confidence-higher-education-down-sharply.aspx">"Americans' Confidence in Higher Education Down Sharply"</a>. Gallup. Retrieved July 12, 2023.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Gallup&rft.atitle=Americans%27+Confidence+in+Higher+Education+Down+Sharply&rft.date=2023-07-11&rft.aulast=Brenan&rft.aufirst=Megan&rft_id=https%3A%2F%2Fnews.gallup.com%2Fpoll%2F508352%2Famericans-confidence-higher-education-down-sharply.aspx&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-:112-26"><a href="#cite_ref-:112_26-0">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFKrupnick2017" class="citation news cs1">Krupnick, Matt (August 29, 2017). <a rel="nofollow" class="external text" href="https://www.pbs.org/newshour/education/decades-pushing-bachelors-degrees-u-s-needs-tradespeople">"After decades of pushing bachelor's degrees, U.S. needs more tradespeople"</a>. PBS Newshour. Retrieved May 17, 2019.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=PBS+Newshour&rft.atitle=After+decades+of+pushing+bachelor%27s+degrees%2C+U.S.+needs+more+tradespeople&rft.date=2017-08-29&rft.aulast=Krupnick&rft.aufirst=Matt&rft_id=https%3A%2F%2Fwww.pbs.org%2Fnewshour%2Feducation%2Fdecades-pushing-bachelors-degrees-u-s-needs-tradespeople&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-27"><a href="#cite_ref-27">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFGrossMarcus2018" class="citation news cs1">Gross, Ashley; Marcus, Jon (April 25, 2018). <a rel="nofollow" class="external text" href="https://www.npr.org/sections/ed/2018/04/25/605092520/high-paying-trade-jobs-sit-empty-while-high-school-grads-line-up-for-university">"High-Paying Trade Jobs Sit Empty, While High School Grads Line Up For University"</a>. National Public Radio. Retrieved October 14, 2024.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=National+Public+Radio&rft.atitle=High-Paying+Trade+Jobs+Sit+Empty%2C+While+High+School+Grads+Line+Up+For+University&rft.date=2018-04-25&rft.aulast=Gross&rft.aufirst=Ashley&rft.au=Marcus%2C+Jon&rft_id=https%3A%2F%2Fwww.npr.org%2Fsections%2Fed%2F2018%2F04%2F25%2F605092520%2Fhigh-paying-trade-jobs-sit-empty-while-high-school-grads-line-up-for-university&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-Emmons_Kent_&_Ricketts_2019-28">^ <a href="#cite_ref-Emmons_Kent_&_Ricketts_2019_28-0">a</a> <a href="#cite_ref-Emmons_Kent_&_Ricketts_2019_28-1">b</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFEmmonsKentRicketts2019" class="citation journal cs1">Emmons, William R.; Kent, Ana H.; Ricketts, Lowell R. (2019). <a rel="nofollow" class="external text" href="https://files.stlouisfed.org/files/htdocs/publications/review/2019/10/15/is-college-still-worth-it-the-new-calculus-of-falling-returns.pdf">"Is College Still Worth It? The New Calculus of Falling Returns"</a> (PDF). Federal Reserve Bank of St. Louis Review. 101 (4). <a href="/wiki/Federal_Reserve_Bank_of_St._Louis" title="Federal Reserve Bank of St. Louis">Federal Reserve Bank of St. Louis</a>: 297–329. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.20955%2Fr.101.297-329">10.20955/r.101.297-329</a>. <a href="/wiki/S2CID_(identifier)" class="mw-redirect" title="S2CID (identifier)">S2CID</a> <a rel="nofollow" class="external text" href="https://api.semanticscholar.org/CorpusID:211431474">211431474</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Federal+Reserve+Bank+of+St.+Louis+Review&rft.atitle=Is+College+Still+Worth+It%3F+The+New+Calculus+of+Falling+Returns&rft.volume=101&rft.issue=4&rft.pages=297-329&rft.date=2019&rft_id=info%3Adoi%2F10.20955%2Fr.101.297-329&rft_id=https%3A%2F%2Fapi.semanticscholar.org%2FCorpusID%3A211431474%23id-name%3DS2CID&rft.aulast=Emmons&rft.aufirst=William+R.&rft.au=Kent%2C+Ana+H.&rft.au=Ricketts%2C+Lowell+R.&rft_id=https%3A%2F%2Ffiles.stlouisfed.org%2Ffiles%2Fhtdocs%2Fpublications%2Freview%2F2019%2F10%2F15%2Fis-college-still-worth-it-the-new-calculus-of-falling-returns.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-:60-29">^ <a href="#cite_ref-:60_29-0">a</a> <a href="#cite_ref-:60_29-1">b</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFNadworny2018" class="citation news cs1">Nadworny, Elissa (May 25, 2018). <a rel="nofollow" class="external text" href="https://www.npr.org/2018/05/25/614315950/why-is-undergraduate-college-enrollment-declining">"Why Is Undergraduate College Enrollment Declining?"</a>. Education. NPR. Retrieved November 28, 2019.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=NPR&rft.atitle=Why+Is+Undergraduate+College+Enrollment+Declining%3F&rft.date=2018-05-25&rft.aulast=Nadworny&rft.aufirst=Elissa&rft_id=https%3A%2F%2Fwww.npr.org%2F2018%2F05%2F25%2F614315950%2Fwhy-is-undergraduate-college-enrollment-declining&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-:0-30">^ <a href="#cite_ref-:0_30-0">a</a> <a href="#cite_ref-:0_30-1">b</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFMoody2022" class="citation news cs1">Moody, Josh (May 26, 2022). <a rel="nofollow" class="external text" href="https://archive.today/20220817192456/https://www.insidehighered.com/views/2022/08/16/higher-ed-must-change-or-die-opinion">"A 5th Straight Semester of Enrollment Declines"</a>. Inside Higher Education. Archived from <a rel="nofollow" class="external text" href="https://www.insidehighered.com/news/2022/05/26/nsc-report-shows-total-enrollment-down-41-percent">the original</a> on August 17, 2022. Retrieved August 21, 2022.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Inside+Higher+Education&rft.atitle=A+5th+Straight+Semester+of+Enrollment+Declines&rft.date=2022-05-26&rft.aulast=Moody&rft.aufirst=Josh&rft_id=https%3A%2F%2Fwww.insidehighered.com%2Fnews%2F2022%2F05%2F26%2Fnsc-report-shows-total-enrollment-down-41-percent&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-:18-31">^ <a href="#cite_ref-:18_31-0">a</a> <a href="#cite_ref-:18_31-1">b</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFSteinbergNadworny2022" class="citation news cs1">Steinberg, Anya; Nadworny, Elissa (March 28, 2022). <a rel="nofollow" class="external text" href="https://www.npr.org/2022/03/28/1086454046/2-year-skilled-trades-programs-booming">"Community college enrollment is down, but skilled-trades programs are booming"</a>. NPR. Retrieved May 2, 2023.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=NPR&rft.atitle=Community+college+enrollment+is+down%2C+but+skilled-trades+programs+are+booming&rft.date=2022-03-28&rft.aulast=Steinberg&rft.aufirst=Anya&rft.au=Nadworny%2C+Elissa&rft_id=https%3A%2F%2Fwww.npr.org%2F2022%2F03%2F28%2F1086454046%2F2-year-skilled-trades-programs-booming&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-:14-32">^ <a href="#cite_ref-:14_32-0">a</a> <a href="#cite_ref-:14_32-1">b</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFSanchez2023" class="citation news cs1">Sanchez, Olivia (April 17, 2023). <a rel="nofollow" class="external text" href="https://apnews.com/article/community-college-trade-school-075d7e7e2b0dc659920a9be6d054c8b2">"While some students skip college, trade programs are booming"</a>. Associated Press. Retrieved April 17, 2023.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Associated+Press&rft.atitle=While+some+students+skip+college%2C+trade+programs+are+booming&rft.date=2023-04-17&rft.aulast=Sanchez&rft.aufirst=Olivia&rft_id=https%3A%2F%2Fapnews.com%2Farticle%2Fcommunity-college-trade-school-075d7e7e2b0dc659920a9be6d054c8b2&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-:29-33">^ <a href="#cite_ref-:29_33-0">a</a> <a href="#cite_ref-:29_33-1">b</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFBoatman2023" class="citation news cs1">Boatman, Liz (June 15, 2023). <a rel="nofollow" class="external text" href="https://www.aps.org/publications/apsnews/202307/enrollment.cfm">"As Undergrad Physics Enrollment Stumbles, Departments Look Inward"</a>. APS News. Retrieved July 26, 2023.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=APS+News&rft.atitle=As+Undergrad+Physics+Enrollment+Stumbles%2C+Departments+Look+Inward&rft.date=2023-06-15&rft.aulast=Boatman&rft.aufirst=Liz&rft_id=https%3A%2F%2Fwww.aps.org%2Fpublications%2Fapsnews%2F202307%2Fenrollment.cfm&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-:1-34">^ <a href="#cite_ref-:1_34-0">a</a> <a href="#cite_ref-:1_34-1">b</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFFlaherty2022" class="citation news cs1">Flaherty, Colleen (July 5, 2022). <a rel="nofollow" class="external text" href="https://archive.today/20220705161801/https://www.insidehighered.com/news/2022/07/05/professors-are-leaving-academe-during-great-resignation">"Calling It Quits"</a>. Inside Higher Education. Archived from <a rel="nofollow" class="external text" href="https://www.insidehighered.com/news/2022/07/05/professors-are-leaving-academe-during-great-resignation">the original</a> on July 5, 2022. Retrieved August 21, 2022.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Inside+Higher+Education&rft.atitle=Calling+It+Quits&rft.date=2022-07-05&rft.aulast=Flaherty&rft.aufirst=Colleen&rft_id=https%3A%2F%2Fwww.insidehighered.com%2Fnews%2F2022%2F07%2F05%2Fprofessors-are-leaving-academe-during-great-resignation&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-:2-35">^ <a href="#cite_ref-:2_35-0">a</a> <a href="#cite_ref-:2_35-1">b</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFHamilton-Honey2022" class="citation news cs1">Hamilton-Honey, Emily (August 10, 2022). <a rel="nofollow" class="external text" href="https://archive.today/20220821233936/https://www.insidehighered.com/views/2022/08/10/humanities-scholarly-infrastructure-vanishing-opinion">"The Humanities' Scholarly Infrastructure Isn't in Disarray – It's Disappearing"</a>. Inside Higher Education. Archived from <a rel="nofollow" class="external text" href="https://www.insidehighered.com/views/2022/08/10/humanities-scholarly-infrastructure-vanishing-opinion">the original</a> on August 21, 2022. Retrieved August 21, 2022.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Inside+Higher+Education&rft.atitle=The+Humanities%27+Scholarly+Infrastructure+Isn%27t+in+Disarray+%E2%80%93+It%27s+Disappearing&rft.date=2022-08-10&rft.aulast=Hamilton-Honey&rft.aufirst=Emily&rft_id=https%3A%2F%2Fwww.insidehighered.com%2Fviews%2F2022%2F08%2F10%2Fhumanities-scholarly-infrastructure-vanishing-opinion&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-:6-36">^ <a href="#cite_ref-:6_36-0">a</a> <a href="#cite_ref-:6_36-1">b</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFDickler2022" class="citation news cs1">Dickler, Jessica (November 12, 2022). <a rel="nofollow" class="external text" href="https://www.cnbc.com/2022/11/12/the-top-10-most-regretted-college-majors.html">"The top 10 most-regretted college majors — and the degrees graduates wish they had pursued instead"</a>. CNBC. Retrieved February 5, 2023.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=CNBC&rft.atitle=The+top+10+most-regretted+college+majors+%E2%80%94+and+the+degrees+graduates+wish+they+had+pursued+instead&rft.date=2022-11-12&rft.aulast=Dickler&rft.aufirst=Jessica&rft_id=https%3A%2F%2Fwww.cnbc.com%2F2022%2F11%2F12%2Fthe-top-10-most-regretted-college-majors.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-:7-37">^ <a href="#cite_ref-:7_37-0">a</a> <a href="#cite_ref-:7_37-1">b</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFVan_Dam2022" class="citation news cs1">Van Dam, Andrew (September 2, 2022). <a rel="nofollow" class="external text" href="https://archive.today/20220916195736/https://www.washingtonpost.com/business/2022/09/02/college-major-regrets/">"The most-regretted (and lowest-paying) college majors"</a>. The Washington Post. Archived from <a rel="nofollow" class="external text" href="https://www.washingtonpost.com/business/2022/09/02/college-major-regrets/">the original</a> on September 16, 2022. Retrieved February 5, 2023.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+Washington+Post&rft.atitle=The+most-regretted+%28and+lowest-paying%29+college+majors&rft.date=2022-09-02&rft.aulast=Van+Dam&rft.aufirst=Andrew&rft_id=https%3A%2F%2Fwww.washingtonpost.com%2Fbusiness%2F2022%2F09%2F02%2Fcollege-major-regrets%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-:17-38">^ <a href="#cite_ref-:17_38-0">a</a> <a href="#cite_ref-:17_38-1">b</a> <a href="#cite_ref-:17_38-2">c</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFMarcus2013" class="citation news cs1">Marcus, Jon (March 7, 2013). <a rel="nofollow" class="external text" href="https://hechingerreport.org/in-era-of-high-costs-humanities-come-under-attack/">"In era of high costs, humanities come under attack"</a>. Hechinger Report. Retrieved April 20, 2023.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Hechinger+Report&rft.atitle=In+era+of+high+costs%2C+humanities+come+under+attack&rft.date=2013-03-07&rft.aulast=Marcus&rft.aufirst=Jon&rft_id=https%3A%2F%2Fhechingerreport.org%2Fin-era-of-high-costs-humanities-come-under-attack%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-:13-39">^ <a href="#cite_ref-:13_39-0">a</a> <a href="#cite_ref-:13_39-1">b</a> <a href="#cite_ref-:13_39-2">c</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation news cs1"><a rel="nofollow" class="external text" href="https://archive.today/20230408160109/https://www.economist.com/international/2023/04/03/was-your-degree-really-worth-it">"Was your degree really worth it?"</a>. The Economist. April 3, 2023. Archived from <a rel="nofollow" class="external text" href="https://www.economist.com/international/2023/04/03/was-your-degree-really-worth-it">the original</a> on April 8, 2023. Retrieved April 14, 2023.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+Economist&rft.atitle=Was+your+degree+really+worth+it%3F&rft.date=2023-04-03&rft_id=https%3A%2F%2Fwww.economist.com%2Finternational%2F2023%2F04%2F03%2Fwas-your-degree-really-worth-it&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-:5-40">^ <a href="#cite_ref-:5_40-0">a</a> <a href="#cite_ref-:5_40-1">b</a> <a href="#cite_ref-:5_40-2">c</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFBarshay2022" class="citation news cs1">Barshay, Jill (November 21, 2022). <a rel="nofollow" class="external text" href="https://hechingerreport.org/proof-points-861-colleges-and-9499-campuses-have-closed-down-since-2004/">"PROOF POINTS: 861 colleges and 9,499 campuses have closed down since 2004"</a>. Hechinger Report. Retrieved January 16, 2023.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Hechinger+Report&rft.atitle=PROOF+POINTS%3A+861+colleges+and+9%2C499+campuses+have+closed+down+since+2004&rft.date=2022-11-21&rft.aulast=Barshay&rft.aufirst=Jill&rft_id=https%3A%2F%2Fhechingerreport.org%2Fproof-points-861-colleges-and-9499-campuses-have-closed-down-since-2004%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-:30-41">^ <a href="#cite_ref-:30_41-0">a</a> <a href="#cite_ref-:30_41-1">b</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFSurjadi2024" class="citation news cs1">Surjadi, Milla (August 19, 2024). <a rel="nofollow" class="external text" href="https://archive.today/20240826224841/https://www.wsj.com/us-news/education/a-new-problem-with-four-year-degrees-the-surge-in-college-closures-7f68c4aa">"A New Problem With Four-Year Degrees: The Surge in College Closures"</a>. The Wall Street Journal. Archived from <a rel="nofollow" class="external text" href="https://www.wsj.com/us-news/education/a-new-problem-with-four-year-degrees-the-surge-in-college-closures-7f68c4aa">the original</a> on August 26, 2024. Retrieved September 29, 2024.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+Wall+Street+Journal&rft.atitle=A+New+Problem+With+Four-Year+Degrees%3A+The+Surge+in+College+Closures&rft.date=2024-08-19&rft.aulast=Surjadi&rft.aufirst=Milla&rft_id=https%3A%2F%2Fwww.wsj.com%2Fus-news%2Feducation%2Fa-new-problem-with-four-year-degrees-the-surge-in-college-closures-7f68c4aa&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-:9-42">^ <a href="#cite_ref-:9_42-0">a</a> <a href="#cite_ref-:9_42-1">b</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFMarcus2023" class="citation news cs1">Marcus, Jon (April 2, 2023). <a rel="nofollow" class="external text" href="https://apnews.com/article/community-college-enrollment-bb2e79222a4374f4869dc2e5359f2043">"Community colleges are reeling. 'The reckoning is here.'"</a>. Associated Press. Retrieved April 3, 2023.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Associated+Press&rft.atitle=Community+colleges+are+reeling.+%27The+reckoning+is+here.%27&rft.date=2023-04-02&rft.aulast=Marcus&rft.aufirst=Jon&rft_id=https%3A%2F%2Fapnews.com%2Farticle%2Fcommunity-college-enrollment-bb2e79222a4374f4869dc2e5359f2043&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-:19-43">^ <a href="#cite_ref-:19_43-0">a</a> <a href="#cite_ref-:19_43-1">b</a> <a href="#cite_ref-:19_43-2">c</a> <a href="#cite_ref-:19_43-3">d</a> <a href="#cite_ref-:19_43-4">e</a> <a href="#cite_ref-:19_43-5">f</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFThompson2017" class="citation news cs1">Thompson, Derek (July 26, 2017). <a rel="nofollow" class="external text" href="https://archive.today/20170726150935/https://www.theatlantic.com/business/archive/2017/07/college-bubble-ends/534915/">"This Is the Way the College 'Bubble' Ends"</a>. The Atlantic. Archived from <a rel="nofollow" class="external text" href="https://www.theatlantic.com/business/archive/2017/07/college-bubble-ends/534915/">the original</a> on July 26, 2017. Retrieved May 5, 2023.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+Atlantic&rft.atitle=This+Is+the+Way+the+College+%27Bubble%27+Ends&rft.date=2017-07-26&rft.aulast=Thompson&rft.aufirst=Derek&rft_id=https%3A%2F%2Fwww.theatlantic.com%2Fbusiness%2Farchive%2F2017%2F07%2Fcollege-bubble-ends%2F534915%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-:20-44">^ <a href="#cite_ref-:20_44-0">a</a> <a href="#cite_ref-:20_44-1">b</a> <a href="#cite_ref-:20_44-2">c</a> <a href="#cite_ref-:20_44-3">d</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFBelkin2017" class="citation news cs1">Belkin, Douglas (July 19, 2017). <a rel="nofollow" class="external text" href="https://archive.today/20170720134021/https://www.wsj.com/articles/more-colleges-dropping-out-1500506002">"More Colleges Drop Out"</a>. The Wall Street Journal. Archived from <a rel="nofollow" class="external text" href="https://www.wsj.com/articles/more-colleges-dropping-out-1500506002">the original</a> on July 20, 2017. Retrieved May 5, 2023.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+Wall+Street+Journal&rft.atitle=More+Colleges+Drop+Out&rft.date=2017-07-19&rft.aulast=Belkin&rft.aufirst=Douglas&rft_id=https%3A%2F%2Fwww.wsj.com%2Farticles%2Fmore-colleges-dropping-out-1500506002&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-45"><a href="#cite_ref-45">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation news cs1"><a rel="nofollow" class="external text" href="https://www.pbs.org/newshour/show/should-more-kids-skip-college-for-workforce-training">"Should more kids skip college for workforce training?"</a>. PBS Newshour. January 26, 2016. Retrieved October 2, 2019.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=PBS+Newshour&rft.atitle=Should+more+kids+skip+college+for+workforce+training%3F&rft.date=2016-01-26&rft_id=https%3A%2F%2Fwww.pbs.org%2Fnewshour%2Fshow%2Fshould-more-kids-skip-college-for-workforce-training&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-46"><a href="#cite_ref-46">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFBennett1987" class="citation journal cs1">Bennett, William J. (February 18, 1987). <a rel="nofollow" class="external text" href="https://www.nytimes.com/1987/02/18/opinion/our-greedy-colleges.html">"Our Greedy Colleges"</a>. The New York Times.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+New+York+Times&rft.atitle=Our+Greedy+Colleges&rft.date=1987-02-18&rft.aulast=Bennett&rft.aufirst=William+J.&rft_id=https%3A%2F%2Fwww.nytimes.com%2F1987%2F02%2F18%2Fopinion%2Four-greedy-colleges.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-47"><a href="#cite_ref-47">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation journal cs1"><a rel="nofollow" class="external text" href="https://www.usnews.com/education/articles/2010/08/17/how-us-news-calculates-the-college-rankings">"How U.S. News Calculates the College Rankings"</a>. <a href="/wiki/U.S._News_%26_World_Report" title="U.S. News & World Report">U.S. News & World Report</a>. 2010.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=U.S.+News+%26+World+Report&rft.atitle=How+U.S.+News+Calculates+the+College+Rankings&rft.date=2010&rft_id=https%3A%2F%2Fwww.usnews.com%2Feducation%2Farticles%2F2010%2F08%2F17%2Fhow-us-news-calculates-the-college-rankings&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-48"><a href="#cite_ref-48">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFDaleKrueger1998" class="citation journal cs1">Dale, S.B.; Krueger, A.B. (December 1998). <a rel="nofollow" class="external text" href="https://web.archive.org/web/20110716072917/http://www.irs.princeton.edu/pubs/pdfs/409.pdf">"Estimating the Payoff to Attending a More Selective College: An Application of Selection on Observables and Unobservables"</a> (PDF). Industrial Relations Section. Princeton University. Archived from <a rel="nofollow" class="external text" href="http://www.irs.princeton.edu/pubs/pdfs/409.pdf">the original</a> (PDF) on July 16, 2011. Retrieved May 3, 2011.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Industrial+Relations+Section&rft.atitle=Estimating+the+Payoff+to+Attending+a+More+Selective+College%3A+An+Application+of+Selection+on+Observables+and+Unobservables&rft.date=1998-12&rft.aulast=Dale&rft.aufirst=S.B.&rft.au=Krueger%2C+A.B.&rft_id=http%3A%2F%2Fwww.irs.princeton.edu%2Fpubs%2Fpdfs%2F409.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-49"><a href="#cite_ref-49">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFLeyKeppo2011" class="citation journal cs1">Ley, Katharina; Keppo, Jussi (2011). "The Credits that Count: How Credit Growth and Financial Aid Affect College Tuition and Fees". <a href="/wiki/Social_Science_Research_Network" title="Social Science Research Network">Social Science Research Network</a>. Ley, K. and Keppo, J., SSRN. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.2139%2Fssrn.1766549">10.2139/ssrn.1766549</a>. <a href="/wiki/S2CID_(identifier)" class="mw-redirect" title="S2CID (identifier)">S2CID</a> <a rel="nofollow" class="external text" href="https://api.semanticscholar.org/CorpusID:154146898">154146898</a>. <a href="/wiki/SSRN_(identifier)" class="mw-redirect" title="SSRN (identifier)">SSRN</a> <a rel="nofollow" class="external text" href="https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1766549">1766549</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Social+Science+Research+Network&rft.atitle=The+Credits+that+Count%3A+How+Credit+Growth+and+Financial+Aid+Affect+College+Tuition+and+Fees&rft.date=2011&rft_id=https%3A%2F%2Fapi.semanticscholar.org%2FCorpusID%3A154146898%23id-name%3DS2CID&rft_id=https%3A%2F%2Fpapers.ssrn.com%2Fsol3%2Fpapers.cfm%3Fabstract_id%3D1766549%23id-name%3DSSRN&rft_id=info%3Adoi%2F10.2139%2Fssrn.1766549&rft.aulast=Ley&rft.aufirst=Katharina&rft.au=Keppo%2C+Jussi&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-50"><a href="#cite_ref-50">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFEichler2011" class="citation news cs1">Eichler, Alexander (August 30, 2011). <a rel="nofollow" class="external text" href="http://www.huffingtonpost.com/2011/08/30/class-2011-hiring_n_942571.html">"Hiring Is Up For The Class Of 2011, But Previous Classes Still Struggle"</a>. Huffington Post.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Huffington+Post&rft.atitle=Hiring+Is+Up+For+The+Class+Of+2011%2C+But+Previous+Classes+Still+Struggle&rft.date=2011-08-30&rft.aulast=Eichler&rft.aufirst=Alexander&rft_id=http%3A%2F%2Fwww.huffingtonpost.com%2F2011%2F08%2F30%2Fclass-2011-hiring_n_942571.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-51"><a href="#cite_ref-51">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFJohnson2011" class="citation web cs1">Johnson, Lacey (November 17, 2011). <a rel="nofollow" class="external text" href="http://chronicle.com/article/Job-Outlook-for-College/129808/">"Job Outlook for College Graduates Is Slowly Improving"</a>. The Chronicle of Higher Education.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=The+Chronicle+of+Higher+Education&rft.atitle=Job+Outlook+for+College+Graduates+Is+Slowly+Improving&rft.date=2011-11-17&rft.aulast=Johnson&rft.aufirst=Lacey&rft_id=http%3A%2F%2Fchronicle.com%2Farticle%2FJob-Outlook-for-College%2F129808%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-phys.org-52">^ <a href="#cite_ref-phys.org_52-0">a</a> <a href="#cite_ref-phys.org_52-1">b</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFPope2011" class="citation web cs1">Pope, Justin (September 12, 2011). <a rel="nofollow" class="external text" href="http://phys.org/news/2011-09-student-loan-default.html">"Student loan default rates jump"</a>. Phys.org. Science X network.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=Phys.org&rft.atitle=Student+loan+default+rates+jump&rft.date=2011-09-12&rft.aulast=Pope&rft.aufirst=Justin&rft_id=http%3A%2F%2Fphys.org%2Fnews%2F2011-09-student-loan-default.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-Kirkham-53">^ <a href="#cite_ref-Kirkham_53-0">a</a> <a href="#cite_ref-Kirkham_53-1">b</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFKirkham2011" class="citation news cs1">Kirkham, Chris (September 12, 2011). <a rel="nofollow" class="external text" href="http://www.huffingtonpost.com/2011/09/12/for-profit-colleges-student-loan-_n_959058.html">"Led By For-Profit Colleges, Student Loan Defaults At Highest Level In A Decade"</a>. Huffington Post.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Huffington+Post&rft.atitle=Led+By+For-Profit+Colleges%2C+Student+Loan+Defaults+At+Highest+Level+In+A+Decade&rft.date=2011-09-12&rft.aulast=Kirkham&rft.aufirst=Chris&rft_id=http%3A%2F%2Fwww.huffingtonpost.com%2F2011%2F09%2F12%2Ffor-profit-colleges-student-loan-_n_959058.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-54"><a href="#cite_ref-54">^</a> McKinsey Global Institute, <a rel="nofollow" class="external text" href="http://www.mckinsey.com/Insights/MGI/Research/Labor_Markets/An_economy_that_works_for_US_job_creation">An Economy that Works: Job Creation and America's Future</a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20130118102036/http://www.mckinsey.com/insights/mgi/research/labor_markets/an_economy_that_works_for_us_job_creation">Archived</a> January 18, 2013, at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a>, June 2011 </li> <li id="cite_note-55"><a href="#cite_ref-55">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFBelkinMoriarty2018" class="citation web cs1">Belkin, Douglas; Moriarty, Dylan (December 19, 2018). <a rel="nofollow" class="external text" href="https://www.wsj.com/graphics/calculating-risk-of-college/?mod=article_inline">"Calculating the Risk of College"</a>. The Wall Street Journal.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=The+Wall+Street+Journal&rft.atitle=Calculating+the+Risk+of+College&rft.date=2018-12-19&rft.aulast=Belkin&rft.aufirst=Douglas&rft.au=Moriarty%2C+Dylan&rft_id=https%3A%2F%2Fwww.wsj.com%2Fgraphics%2Fcalculating-risk-of-college%2F%3Fmod%3Darticle_inline&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-56"><a href="#cite_ref-56">^</a> Note that these add up to more than 100% because they are cumulative; e.g. it is assumed that all people with doctorates also have undergraduate and high school degrees, and are thus counted twice in the "lower" categories. Age 25 is used rather than age 18 because there are few people aged 18 or over with advanced degrees. <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.census.gov/data/tables/2018/demo/education-attainment/cps-detailed-tables.html">"Educational Attainment in the United States: 2018"</a>. U.S. Census Bureau. Retrieved June 23, 2018.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Educational+Attainment+in+the+United+States%3A+2018&rft.pub=U.S.+Census+Bureau&rft_id=https%3A%2F%2Fwww.census.gov%2Fdata%2Ftables%2F2018%2Fdemo%2Feducation-attainment%2Fcps-detailed-tables.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> Percentages are calculated based on census data by counting people that had attained that level or higher. </li> <li id="cite_note-57"><a href="#cite_ref-57">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFReynolds2012" class="citation book cs1">Reynolds, Glenn H. (2012). The higher education bubble. New York: Encounter Books. p. 1. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-1594036651" title="Special:BookSources/978-1594036651"><bdi>978-1594036651</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=The+higher+education+bubble&rft.place=New+York&rft.pages=1&rft.pub=Encounter+Books&rft.date=2012&rft.isbn=978-1594036651&rft.aulast=Reynolds&rft.aufirst=Glenn+H.&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-:21-58">^ <a href="#cite_ref-:21_58-0">a</a> <a href="#cite_ref-:21_58-1">b</a> <a href="#cite_ref-:21_58-2">c</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFWill2012" class="citation news cs1">Will, George F. (June 8, 2012). <a rel="nofollow" class="external text" href="https://archive.today/20230507192848/https://www.washingtonpost.com/opinions/george-will-subprime-college-educations/2012/06/08/gJQA4fGiOV_story.html">"Subprime college educations"</a>. The Washington Post. Archived from <a rel="nofollow" class="external text" href="https://www.washingtonpost.com/opinions/george-will-subprime-college-educations/2012/06/08/gJQA4fGiOV_story.html">the original</a> on May 7, 2023. Retrieved May 7, 2023.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+Washington+Post&rft.atitle=Subprime+college+educations&rft.date=2012-06-08&rft.aulast=Will&rft.aufirst=George+F.&rft_id=https%3A%2F%2Fwww.washingtonpost.com%2Fopinions%2Fgeorge-will-subprime-college-educations%2F2012%2F06%2F08%2FgJQA4fGiOV_story.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-59"><a href="#cite_ref-59">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFForoohar2020" class="citation news cs1">Foroohar, Rana (April 26, 2020). <a rel="nofollow" class="external text" href="https://archive.today/20200426155925/https://www.ft.com/content/e5d50e86-861a-11ea-b872-8db45d5f6714">"Coronavirus bursts the US college education bubble"</a>. Financial Times. Archived from <a rel="nofollow" class="external text" href="https://www.ft.com/content/e5d50e86-861a-11ea-b872-8db45d5f6714">the original</a> on April 26, 2020. Retrieved May 5, 2023.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Financial+Times&rft.atitle=Coronavirus+bursts+the+US+college+education+bubble&rft.date=2020-04-26&rft.aulast=Foroohar&rft.aufirst=Rana&rft_id=https%3A%2F%2Fwww.ft.com%2Fcontent%2Fe5d50e86-861a-11ea-b872-8db45d5f6714&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-60"><a href="#cite_ref-60">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFCampos2015" class="citation news cs1">Campos, Paul (January 8, 2015). <a rel="nofollow" class="external text" href="https://archive.today/20230506031434/https://theweek.com/articles/450341/how-louis-vuitton-bag-explain-higher-education-bubble">"How a Louis Vuitton bag can explain the higher education bubble"</a>. The Week. Archived from <a rel="nofollow" class="external text" href="https://theweek.com/articles/450341/how-louis-vuitton-bag-explain-higher-education-bubble">the original</a> on May 6, 2023. Retrieved May 5, 2023.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+Week&rft.atitle=How+a+Louis+Vuitton+bag+can+explain+the+higher+education+bubble&rft.date=2015-01-08&rft.aulast=Campos&rft.aufirst=Paul&rft_id=https%3A%2F%2Ftheweek.com%2Farticles%2F450341%2Fhow-louis-vuitton-bag-explain-higher-education-bubble&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-61"><a href="#cite_ref-61">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation news cs1"><a rel="nofollow" class="external text" href="https://archive.today/20190509002300/https://www.economist.com/books-and-arts/2017/08/05/modern-american-elites-have-come-to-favour-inconspicuous-consumption">"Modern American elites have come to favour inconspicuous consumption"</a>. The Economist. August 5, 2017. Archived from <a rel="nofollow" class="external text" href="https://www.economist.com/books-and-arts/2017/08/05/modern-american-elites-have-come-to-favour-inconspicuous-consumption">the original</a> on May 9, 2019. Retrieved September 11, 2021. <q>Rather than filling garages with flashy cars, the data show, today's rich devote their budgets to less visible but more valuable ends. Chief among them is education for their children: the top 10% now allocate almost four times as much of their spending to school and university as they did in 1996, whereas for other groups the figure has hardly budged.</q></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+Economist&rft.atitle=Modern+American+elites+have+come+to+favour+inconspicuous+consumption&rft.date=2017-08-05&rft_id=https%3A%2F%2Fwww.economist.com%2Fbooks-and-arts%2F2017%2F08%2F05%2Fmodern-american-elites-have-come-to-favour-inconspicuous-consumption&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-62"><a href="#cite_ref-62">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFCurrid-Halkett2017" class="citation news cs1"><a href="/wiki/Elizabeth_Currid-Halkett" title="Elizabeth Currid-Halkett">Currid-Halkett, Elizabeth</a> (June 14, 2017). <a rel="nofollow" class="external text" href="https://www.bbc.com/worklife/article/20170614-the-new-subtle-ways-the-rich-signal-their-wealth">"The new, subtle ways the rich signal their wealth"</a>. BBC Future. Retrieved September 11, 2021. <q>Inconspicuous consumption – whether breastfeeding or education – is a means to a better quality of life and improved social mobility for one's own children, whereas conspicuous consumption is merely an end in itself – simply ostentation. For today's aspirational class, inconspicuous consumption choices secure and preserve social status, even if they do not necessarily display it.</q></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=BBC+Future&rft.atitle=The+new%2C+subtle+ways+the+rich+signal+their+wealth&rft.date=2017-06-14&rft.aulast=Currid-Halkett&rft.aufirst=Elizabeth&rft_id=https%3A%2F%2Fwww.bbc.com%2Fworklife%2Farticle%2F20170614-the-new-subtle-ways-the-rich-signal-their-wealth&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-NYT42415-63"><a href="#cite_ref-NYT42415_63-0">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFWilliam_R._EmmonsAna_H._KentLowell_R._Ricketts2019" class="citation web cs1">William R. Emmons; Ana H. Kent; Lowell R. Ricketts (January 7, 2019). <a rel="nofollow" class="external text" href="https://www.stlouisfed.org/~/media/files/pdfs/hfs/is-college-worth-it/emmons_kent_ricketts_college_still_worth_it.pdf?la=en">"Is College Still Worth It? The New Calculus of Falling Returns"</a> (PDF).</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Is+College+Still+Worth+It%3F+The+New+Calculus+of+Falling+Returns&rft.date=2019-01-07&rft.au=William+R.+Emmons&rft.au=Ana+H.+Kent&rft.au=Lowell+R.+Ricketts&rft_id=https%3A%2F%2Fwww.stlouisfed.org%2F~%2Fmedia%2Ffiles%2Fpdfs%2Fhfs%2Fis-college-worth-it%2Femmons_kent_ricketts_college_still_worth_it.pdf%3Fla%3Den&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-64"><a href="#cite_ref-64">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFLowrey2021" class="citation news cs1">Lowrey, Anne (May 13, 2021). <a rel="nofollow" class="external text" href="https://archive.today/20210526191731/https://www.theatlantic.com/ideas/archive/2021/05/millennial-grandparents-unequal-generation/618859/">"Why Millennials Can't Grow Up"</a>. The Atlantic. Archived from <a rel="nofollow" class="external text" href="https://www.theatlantic.com/author/annie-lowrey/">the original</a> on May 26, 2021. Retrieved December 9, 2023.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+Atlantic&rft.atitle=Why+Millennials+Can%27t+Grow+Up&rft.date=2021-05-13&rft.aulast=Lowrey&rft.aufirst=Anne&rft_id=https%3A%2F%2Fwww.theatlantic.com%2Fauthor%2Fannie-lowrey%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-Education_Pays-65">^ <a href="#cite_ref-Education_Pays_65-0">a</a> <a href="#cite_ref-Education_Pays_65-1">b</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20111220025246/http://www.bls.gov/emp/ep_chart_001.htm">"Education pays..."</a> Bureau of Labor Statistics. U.S. Department of Labor. May 4, 2011. Archived from <a rel="nofollow" class="external text" href="http://www.bls.gov/emp/ep_chart_001.htm">the original</a> on December 20, 2011. Retrieved February 22, 2023.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=Bureau+of+Labor+Statistics&rft.atitle=Education+pays...&rft.date=2011-05-04&rft_id=http%3A%2F%2Fwww.bls.gov%2Femp%2Fep_chart_001.htm&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-66"><a href="#cite_ref-66">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFMarcus2016" class="citation news cs1">Marcus, Jon (January 22, 2016). <a rel="nofollow" class="external text" href="https://www.pbs.org/newshour/education/facing-skepticism-colleges-set-out-to-prove-their-value">"Facing skepticism, colleges set out to prove their value"</a>. PBS Newshour. Retrieved October 2, 2019.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=PBS+Newshour&rft.atitle=Facing+skepticism%2C+colleges+set+out+to+prove+their+value&rft.date=2016-01-22&rft.aulast=Marcus&rft.aufirst=Jon&rft_id=https%3A%2F%2Fwww.pbs.org%2Fnewshour%2Feducation%2Ffacing-skepticism-colleges-set-out-to-prove-their-value&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-67"><a href="#cite_ref-67">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFJones2021" class="citation news cs1">Jones, Laura (June 9, 2021). <a rel="nofollow" class="external text" href="https://www.bbc.com/news/business-57364316">"The fight to find work: 'I've applied for 200 jobs'"</a>. BBC. Retrieved June 29, 2023.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=BBC&rft.atitle=The+fight+to+find+work%3A+%27I%27ve+applied+for+200+jobs%27&rft.date=2021-06-09&rft.aulast=Jones&rft.aufirst=Laura&rft_id=https%3A%2F%2Fwww.bbc.com%2Fnews%2Fbusiness-57364316&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-:81-68">^ <a href="#cite_ref-:81_68-0">a</a> <a href="#cite_ref-:81_68-1">b</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFDutt-Ballerstadt2019" class="citation news cs1">Dutt-Ballerstadt, Reshmi (March 1, 2019). <a rel="nofollow" class="external text" href="https://www.insidehighered.com/advice/2019/03/01/shrinking-liberal-arts-programs-raise-alarm-bells-among-faculty">"Academic Prioritization or Killing the Liberal Arts?"</a>. Inside Higher Ed. Retrieved March 1, 2021.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Inside+Higher+Ed&rft.atitle=Academic+Prioritization+or+Killing+the+Liberal+Arts%3F&rft.date=2019-03-01&rft.aulast=Dutt-Ballerstadt&rft.aufirst=Reshmi&rft_id=https%3A%2F%2Fwww.insidehighered.com%2Fadvice%2F2019%2F03%2F01%2Fshrinking-liberal-arts-programs-raise-alarm-bells-among-faculty&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-69"><a href="#cite_ref-69">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFWinters2024" class="citation web cs1">Winters, Mike (March 16, 2024). <a rel="nofollow" class="external text" href="https://www.cnbc.com/2024/03/16/worst-paying-college-majors-five-years-after-graduation.html">"The 16 worst-paying college majors, five years after graduation"</a>. CNBC.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=CNBC&rft.atitle=The+16+worst-paying+college+majors%2C+five+years+after+graduation&rft.date=2024-03-16&rft.aulast=Winters&rft.aufirst=Mike&rft_id=https%3A%2F%2Fwww.cnbc.com%2F2024%2F03%2F16%2Fworst-paying-college-majors-five-years-after-graduation.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-70"><a href="#cite_ref-70">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFWinters2024" class="citation web cs1">Winters, Mike (March 16, 2024). <a rel="nofollow" class="external text" href="https://www.cnbc.com/2024/03/14/highest-paying-college-majors-5-years-after-graduation.html">"The 16 highest-paying college majors, 5 years after graduation"</a>. CNBC.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=CNBC&rft.atitle=The+16+highest-paying+college+majors%2C+5+years+after+graduation&rft.date=2024-03-16&rft.aulast=Winters&rft.aufirst=Mike&rft_id=https%3A%2F%2Fwww.cnbc.com%2F2024%2F03%2F14%2Fhighest-paying-college-majors-5-years-after-graduation.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-71"><a href="#cite_ref-71">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFHarris2018" class="citation news cs1">Harris, Sam (December 13, 2018). <a rel="nofollow" class="external text" href="https://archive.today/20200804222345/https://www.theatlantic.com/education/archive/2018/12/the-liberal-arts-may-not-survive-the-21st-century/577876/">"The Liberal Arts May Not Survive the 21st Century"</a>. Education. The Atlantic. Archived from <a rel="nofollow" class="external text" href="https://www.theatlantic.com/education/archive/2018/12/the-liberal-arts-may-not-survive-the-21st-century/577876/">the original</a> on August 4, 2020. Retrieved December 8, 2023.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+Atlantic&rft.atitle=The+Liberal+Arts+May+Not+Survive+the+21st+Century&rft.date=2018-12-13&rft.aulast=Harris&rft.aufirst=Sam&rft_id=https%3A%2F%2Fwww.theatlantic.com%2Feducation%2Farchive%2F2018%2F12%2Fthe-liberal-arts-may-not-survive-the-21st-century%2F577876%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-:16-72">^ <a href="#cite_ref-:16_72-0">a</a> <a href="#cite_ref-:16_72-1">b</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFBerlatsky2018" class="citation news cs1">Berlatsky, Noah (October 8, 2018). <a rel="nofollow" class="external text" href="https://www.nbcnews.com/think/opinion/are-millennials-really-blame-decline-liberal-arts-ncna911941">"Are millennials to blame for the decline in English majors?"</a>. NBC. Retrieved April 20, 2023.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=NBC&rft.atitle=Are+millennials+to+blame+for+the+decline+in+English+majors%3F&rft.date=2018-10-08&rft.aulast=Berlatsky&rft.aufirst=Noah&rft_id=https%3A%2F%2Fwww.nbcnews.com%2Fthink%2Fopinion%2Fare-millennials-really-blame-decline-liberal-arts-ncna911941&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-73"><a href="#cite_ref-73">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFJaschik2017" class="citation news cs1">Jaschik, Scott (February 27, 2017). <a rel="nofollow" class="external text" href="https://archive.today/20211121224403/https://www.insidehighered.com/news/2017/02/27/research-confirms-professors-lean-left-questions-assumptions-about-what-means">"Professors and Politics: What the Research Says"</a>. Inside Higher Education. Archived from <a rel="nofollow" class="external text" href="https://www.insidehighered.com/news/2017/02/27/research-confirms-professors-lean-left-questions-assumptions-about-what-means">the original</a> on November 21, 2021. Retrieved April 20, 2023.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Inside+Higher+Education&rft.atitle=Professors+and+Politics%3A+What+the+Research+Says&rft.date=2017-02-27&rft.aulast=Jaschik&rft.aufirst=Scott&rft_id=https%3A%2F%2Fwww.insidehighered.com%2Fnews%2F2017%2F02%2F27%2Fresearch-confirms-professors-lean-left-questions-assumptions-about-what-means&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-74"><a href="#cite_ref-74">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFLangin2022" class="citation news cs1">Langin, Katie (June 13, 2022). <a rel="nofollow" class="external text" href="https://www.science.org/content/article/professors-struggle-recruit-postdocs-calls-structural-change-academia-intensify">"As professors struggle to recruit postdocs, calls for structural change in academia intensify"</a>. Science. Retrieved May 19, 2023.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Science&rft.atitle=As+professors+struggle+to+recruit+postdocs%2C+calls+for+structural+change+in+academia+intensify&rft.date=2022-06-13&rft.aulast=Langin&rft.aufirst=Katie&rft_id=https%3A%2F%2Fwww.science.org%2Fcontent%2Farticle%2Fprofessors-struggle-recruit-postdocs-calls-structural-change-academia-intensify&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-75"><a href="#cite_ref-75">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFWosen2022" class="citation news cs1">Wosen, Jonathan (November 10, 2022). <a rel="nofollow" class="external text" href="https://archive.today/20221114173416/https://www.statnews.com/2022/11/10/tipping-point-is-coming-unprecedented-exodus-of-young-life-scientists-shaking-up-academia/">"'The tipping point is coming': Unprecedented exodus of young life scientists is shaking up academia"</a>. Stat News. Archived from <a rel="nofollow" class="external text" href="https://www.statnews.com/2022/11/10/tipping-point-is-coming-unprecedented-exodus-of-young-life-scientists-shaking-up-academia/">the original</a> on November 14, 2022. Retrieved May 19, 2023.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Stat+News&rft.atitle=%27The+tipping+point+is+coming%27%3A+Unprecedented+exodus+of+young+life+scientists+is+shaking+up+academia&rft.date=2022-11-10&rft.aulast=Wosen&rft.aufirst=Jonathan&rft_id=https%3A%2F%2Fwww.statnews.com%2F2022%2F11%2F10%2Ftipping-point-is-coming-unprecedented-exodus-of-young-life-scientists-shaking-up-academia%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-76"><a href="#cite_ref-76">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFPowell2023" class="citation news cs1">Powell, Michael (December 3, 2023). <a rel="nofollow" class="external text" href="https://archive.today/20231205012135/https://www.theatlantic.com/ideas/archive/2023/12/class-war-west-virignia-university/676152/">"What Happens When A Poor State Guts Its University"</a>. Education. The Atlantic. Archived from <a rel="nofollow" class="external text" href="https://www.theatlantic.com/ideas/archive/2023/12/class-war-west-virignia-university/676152/">the original</a> on December 5, 2023. Retrieved December 8, 2023.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+Atlantic&rft.atitle=What+Happens+When+A+Poor+State+Guts+Its+University&rft.date=2023-12-03&rft.aulast=Powell&rft.aufirst=Michael&rft_id=https%3A%2F%2Fwww.theatlantic.com%2Fideas%2Farchive%2F2023%2F12%2Fclass-war-west-virignia-university%2F676152%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-77"><a href="#cite_ref-77">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFFuhrmansEllis2024" class="citation web cs1">Fuhrmans, Vanessa; Ellis, Lindsay (February 22, 2024). <a rel="nofollow" class="external text" href="https://www.wsj.com/lifestyle/careers/college-degree-jobs-unused-440b2abd?mod=hp_featst_pos4">"Half of College Grads Are Working Jobs That Don't Use Their Degrees"</a>. The Wall Street Journal.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=The+Wall+Street+Journal&rft.atitle=Half+of+College+Grads+Are+Working+Jobs+That+Don%27t+Use+Their+Degrees&rft.date=2024-02-22&rft.aulast=Fuhrmans&rft.aufirst=Vanessa&rft.au=Ellis%2C+Lindsay&rft_id=https%3A%2F%2Fwww.wsj.com%2Flifestyle%2Fcareers%2Fcollege-degree-jobs-unused-440b2abd%3Fmod%3Dhp_featst_pos4&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-78"><a href="#cite_ref-78">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFBelkin2024" class="citation web cs1">Belkin, Douglas (January 19, 2024). <a rel="nofollow" class="external text" href="https://www.wsj.com/us-news/education/why-americans-have-lost-faith-in-the-value-of-college-b6b635f2?mod=mhp">"Why Americans Have Lost Faith in the Value of College"</a>. The Wall Street Journal. Retrieved February 1, 2024.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=The+Wall+Street+Journal&rft.atitle=Why+Americans+Have+Lost+Faith+in+the+Value+of+College&rft.date=2024-01-19&rft.aulast=Belkin&rft.aufirst=Douglas&rft_id=https%3A%2F%2Fwww.wsj.com%2Fus-news%2Feducation%2Fwhy-americans-have-lost-faith-in-the-value-of-college-b6b635f2%3Fmod%3Dmhp&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-79"><a href="#cite_ref-79">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFFuhrmansEllis2024" class="citation web cs1">Fuhrmans, Vanessa; Ellis, Lindsay (February 22, 2024). <a rel="nofollow" class="external text" href="https://www.wsj.com/lifestyle/careers/college-degree-jobs-unused-440b2abd?mod=hp_featst_pos4">"Half of College Grads Are Working Jobs That Don't Use Their Degrees"</a>. The Wall Street Journal.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=The+Wall+Street+Journal&rft.atitle=Half+of+College+Grads+Are+Working+Jobs+That+Don%27t+Use+Their+Degrees&rft.date=2024-02-22&rft.aulast=Fuhrmans&rft.aufirst=Vanessa&rft.au=Ellis%2C+Lindsay&rft_id=https%3A%2F%2Fwww.wsj.com%2Flifestyle%2Fcareers%2Fcollege-degree-jobs-unused-440b2abd%3Fmod%3Dhp_featst_pos4&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-:4-80"><a href="#cite_ref-:4_80-0">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFTurchin2012" class="citation news cs1">Turchin, Peter (August 16, 2012). <a rel="nofollow" class="external text" href="https://theconversation.com/cliodynamics-can-science-decode-the-laws-of-history-8626">"Cliodynamics: can science decode the laws of history?"</a>. The Conversation. Retrieved September 22, 2021.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+Conversation&rft.atitle=Cliodynamics%3A+can+science+decode+the+laws+of+history%3F&rft.date=2012-08-16&rft.aulast=Turchin&rft.aufirst=Peter&rft_id=https%3A%2F%2Ftheconversation.com%2Fcliodynamics-can-science-decode-the-laws-of-history-8626&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-81"><a href="#cite_ref-81">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFMarcus2024" class="citation news cs1">Marcus, Jon (August 22, 2024). <a rel="nofollow" class="external text" href="https://hechingerreport.org/the-fastest-growing-college-expense-may-not-be-what-people-think/">"The fastest-growing college expense may not be what people think"</a>. The Hechinger Report. Retrieved September 29, 2024.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+Hechinger+Report&rft.atitle=The+fastest-growing+college+expense+may+not+be+what+people+think&rft.date=2024-08-22&rft.aulast=Marcus&rft.aufirst=Jon&rft_id=https%3A%2F%2Fhechingerreport.org%2Fthe-fastest-growing-college-expense-may-not-be-what-people-think%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-82"><a href="#cite_ref-82">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFMitchell2012" class="citation news cs1">Mitchell, Josh (May 31, 2012). <a rel="nofollow" class="external text" href="https://archive.today/20230507193633/https://www.wsj.com/amp/articles/SB10001424052702303640104577438252890217584">"Student Debt Rises by 8% as College Tuitions Climb"</a>. The Wall Street Journal. Archived from <a rel="nofollow" class="external text" href="https://www.wsj.com/amp/articles/SB10001424052702303640104577438252890217584">the original</a> on May 7, 2023. Retrieved May 7, 2023.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+Wall+Street+Journal&rft.atitle=Student+Debt+Rises+by+8%25+as+College+Tuitions+Climb&rft.date=2012-05-31&rft.aulast=Mitchell&rft.aufirst=Josh&rft_id=https%3A%2F%2Fwww.wsj.com%2Famp%2Farticles%2FSB10001424052702303640104577438252890217584&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-:23-83">^ <a href="#cite_ref-:23_83-0">a</a> <a href="#cite_ref-:23_83-1">b</a> <a href="#cite_ref-:23_83-2">c</a> <a href="#cite_ref-:23_83-3">d</a> <a href="#cite_ref-:23_83-4">e</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFMarcus2021" class="citation news cs1">Marcus, Jon (May 22, 2021). <a rel="nofollow" class="external text" href="https://hechingerreport.org/colleges-face-reckoning-as-plummeting-birthrate-worsens-enrollment-declines/">"Colleges face reckoning as plummeting birthrate worsens enrollment declines"</a>. Hechinger Report. Retrieved May 26, 2023.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Hechinger+Report&rft.atitle=Colleges+face+reckoning+as+plummeting+birthrate+worsens+enrollment+declines&rft.date=2021-05-22&rft.aulast=Marcus&rft.aufirst=Jon&rft_id=https%3A%2F%2Fhechingerreport.org%2Fcolleges-face-reckoning-as-plummeting-birthrate-worsens-enrollment-declines%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-:26-84">^ <a href="#cite_ref-:26_84-0">a</a> <a href="#cite_ref-:26_84-1">b</a> <a href="#cite_ref-:26_84-2">c</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFMarcus2023" class="citation news cs1">Marcus, Jon (April 18, 2023). <a rel="nofollow" class="external text" href="https://hechingerreport.org/in-japan-plummeting-university-enrollment-forecasts-whats-ahead-for-the-u-s/">"In Japan, plummeting university enrollment forecasts what's ahead for the U.S."</a> Hechinger Report. Retrieved July 12, 2023.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Hechinger+Report&rft.atitle=In+Japan%2C+plummeting+university+enrollment+forecasts+what%27s+ahead+for+the+U.S.&rft.date=2023-04-18&rft.aulast=Marcus&rft.aufirst=Jon&rft_id=https%3A%2F%2Fhechingerreport.org%2Fin-japan-plummeting-university-enrollment-forecasts-whats-ahead-for-the-u-s%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-:56-85">^ <a href="#cite_ref-:56_85-0">a</a> <a href="#cite_ref-:56_85-1">b</a> <a href="#cite_ref-:56_85-2">c</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation news cs1"><a rel="nofollow" class="external text" href="https://www.educationdive.com/news/how-many-colleges-and-universities-have-closed-since-2016/539379/">"A look at trends in college and university consolidation since 2016"</a>. Education Dive. November 1, 2019. Retrieved November 28, 2019.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Education+Dive&rft.atitle=A+look+at+trends+in+college+and+university+consolidation+since+2016&rft.date=2019-11-01&rft_id=https%3A%2F%2Fwww.educationdive.com%2Fnews%2Fhow-many-colleges-and-universities-have-closed-since-2016%2F539379%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-:44-86"><a href="#cite_ref-:44_86-0">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFChapman2022" class="citation web cs1">Chapman, Jeff (December 5, 2022). <a rel="nofollow" class="external text" href="https://www.pewtrusts.org/en/research-and-analysis/issue-briefs/2022/12/the-long-term-decline-in-fertility-and-what-it-means-for-state-budgets">"The Long-Term Decline in Fertility—and What It Means for State Budgets"</a>. Pew Trusts. Retrieved May 6, 2023.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=Pew+Trusts&rft.atitle=The+Long-Term+Decline+in+Fertility%E2%80%94and+What+It+Means+for+State+Budgets&rft.date=2022-12-05&rft.aulast=Chapman&rft.aufirst=Jeff&rft_id=https%3A%2F%2Fwww.pewtrusts.org%2Fen%2Fresearch-and-analysis%2Fissue-briefs%2F2022%2F12%2Fthe-long-term-decline-in-fertility-and-what-it-means-for-state-budgets&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-87"><a href="#cite_ref-87">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFMarcus2022" class="citation news cs1">Marcus, Jon (December 16, 2022). <a rel="nofollow" class="external text" href="https://hechingerreport.org/rural-universities-already-few-and-far-between-are-being-stripped-of-majors/">"Rural universities, already few and far between, are being stripped of majors"</a>. Hechinger Report. Retrieved May 26, 2023.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Hechinger+Report&rft.atitle=Rural+universities%2C+already+few+and+far+between%2C+are+being+stripped+of+majors&rft.date=2022-12-16&rft.aulast=Marcus&rft.aufirst=Jon&rft_id=https%3A%2F%2Fhechingerreport.org%2Frural-universities-already-few-and-far-between-are-being-stripped-of-majors%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-88"><a href="#cite_ref-88">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFMarcus2021" class="citation news cs1">Marcus, Jon (May 22, 2021). <a rel="nofollow" class="external text" href="https://archive.ph/k0h4d">"Declining birthrate means hard times ahead for colleges"</a>. The Washington Post. Archived from <a rel="nofollow" class="external text" href="https://www.washingtonpost.com/local/education/college-enrollment-birthrate-decline/2021/05/21/52d7e5a6-ba47-11eb-a5fe-bb49dc89a248_story.html">the original</a> on May 22, 2021. Retrieved November 22, 2024.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+Washington+Post&rft.atitle=Declining+birthrate+means+hard+times+ahead+for+colleges&rft.date=2021-05-22&rft.aulast=Marcus&rft.aufirst=Jon&rft_id=https%3A%2F%2Fwww.washingtonpost.com%2Flocal%2Feducation%2Fcollege-enrollment-birthrate-decline%2F2021%2F05%2F21%2F52d7e5a6-ba47-11eb-a5fe-bb49dc89a248_story.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-:132-89"><a href="#cite_ref-:132_89-0">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFMarcus2024" class="citation news cs1">Marcus, Jon (November 18, 2024). <a rel="nofollow" class="external text" href="https://hechingerreport.org/a-trend-colleges-might-not-want-applicants-to-notice-its-becoming-easier-to-get-in/">"A trend colleges might not want applicants to notice: It's becoming easier to get in"</a>. The Hechinger Report. Retrieved November 22, 2024.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+Hechinger+Report&rft.atitle=A+trend+colleges+might+not+want+applicants+to+notice%3A+It%E2%80%99s+becoming+easier+to+get+in&rft.date=2024-11-18&rft.aulast=Marcus&rft.aufirst=Jon&rft_id=https%3A%2F%2Fhechingerreport.org%2Fa-trend-colleges-might-not-want-applicants-to-notice-its-becoming-easier-to-get-in%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-90"><a href="#cite_ref-90">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFDickler2023" class="citation news cs1">Dickler, Jessica (February 22, 2023). <a rel="nofollow" class="external text" href="https://www.cnbc.com/2023/02/22/more-colleges-to-close-even-as-top-schools-experience-application-boom.html">"More colleges set to close even as top schools experience application boom"</a>. CNBC. Retrieved April 1, 2023.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=CNBC&rft.atitle=More+colleges+set+to+close+even+as+top+schools+experience+application+boom&rft.date=2023-02-22&rft.aulast=Dickler&rft.aufirst=Jessica&rft_id=https%3A%2F%2Fwww.cnbc.com%2F2023%2F02%2F22%2Fmore-colleges-to-close-even-as-top-schools-experience-application-boom.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-91"><a href="#cite_ref-91">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFKirshner2023" class="citation news cs1">Kirshner, Jodie Adams (January 8, 2023). <a rel="nofollow" class="external text" href="https://archive.today/20230108145739/https://www.theatlantic.com/ideas/archive/2023/01/student-college-debt-biden-cancellation-forgiveness/672655/">"Why Some Students Are Skipping College"</a>. The Atlantic. Archived from <a rel="nofollow" class="external text" href="https://www.theatlantic.com/ideas/archive/2023/01/student-college-debt-biden-cancellation-forgiveness/672655/">the original</a> on January 8, 2023. Retrieved May 26, 2023.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+Atlantic&rft.atitle=Why+Some+Students+Are+Skipping+College&rft.date=2023-01-08&rft.aulast=Kirshner&rft.aufirst=Jodie+Adams&rft_id=https%3A%2F%2Fwww.theatlantic.com%2Fideas%2Farchive%2F2023%2F01%2Fstudent-college-debt-biden-cancellation-forgiveness%2F672655%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-92"><a href="#cite_ref-92">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFPetrilliEnamorado2020" class="citation news cs1">Petrilli, Michael J.; Enamorado, Pedro (March 24, 2020). <a rel="nofollow" class="external text" href="https://www.educationnext.org/yes-it-really-is-harder-to-get-into-highly-selective-colleges-today-comparison-sat-scores-over-time/">"Yes, It Really Is Harder to Get into Highly Selective Colleges Today"</a>. Education Next. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20201024195730/https://www.educationnext.org/yes-it-really-is-harder-to-get-into-highly-selective-colleges-today-comparison-sat-scores-over-time/">Archived</a> from the original on October 24, 2020. Retrieved February 19, 2021.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Education+Next&rft.atitle=Yes%2C+It+Really+Is+Harder+to+Get+into+Highly+Selective+Colleges+Today&rft.date=2020-03-24&rft.aulast=Petrilli&rft.aufirst=Michael+J.&rft.au=Enamorado%2C+Pedro&rft_id=https%3A%2F%2Fwww.educationnext.org%2Fyes-it-really-is-harder-to-get-into-highly-selective-colleges-today-comparison-sat-scores-over-time%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-:24-93">^ <a href="#cite_ref-:24_93-0">a</a> <a href="#cite_ref-:24_93-1">b</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation news cs1"><a rel="nofollow" class="external text" href="https://www.economist.com/united-states/2020/05/28/could-a-fifth-of-americas-colleges-really-face-the-chop">"Could a fifth of America's colleges really face the chop?"</a>. United States. The Economist. May 28, 2020. Retrieved July 13, 2020.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+Economist&rft.atitle=Could+a+fifth+of+America%27s+colleges+really+face+the+chop%3F&rft.date=2020-05-28&rft_id=https%3A%2F%2Fwww.economist.com%2Funited-states%2F2020%2F05%2F28%2Fcould-a-fifth-of-americas-colleges-really-face-the-chop&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-94"><a href="#cite_ref-94">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFDickler2021" class="citation news cs1">Dickler, Jessica (March 14, 2021). <a rel="nofollow" class="external text" href="https://www.cnbc.com/2021/03/14/fewer-kids-going-to-college-because-of-cost.html">"Fewer kids are going to college because they say it costs too much"</a>. CNBC. Retrieved September 19, 2021.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=CNBC&rft.atitle=Fewer+kids+are+going+to+college+because+they+say+it+costs+too+much&rft.date=2021-03-14&rft.aulast=Dickler&rft.aufirst=Jessica&rft_id=https%3A%2F%2Fwww.cnbc.com%2F2021%2F03%2F14%2Ffewer-kids-going-to-college-because-of-cost.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-:8-95">^ <a href="#cite_ref-:8_95-0">a</a> <a href="#cite_ref-:8_95-1">b</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFBinkley2023" class="citation news cs1">Binkley, Collin (March 9, 2023). <a rel="nofollow" class="external text" href="https://apnews.com/article/skipping-college-student-loans-trade-jobs-efc1f6d6067ab770f6e512b3f7719cc0">"Jaded with education, more Americans are skipping college"</a>. Associated Press. Retrieved March 9, 2023.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Associated+Press&rft.atitle=Jaded+with+education%2C+more+Americans+are+skipping+college&rft.date=2023-03-09&rft.aulast=Binkley&rft.aufirst=Collin&rft_id=https%3A%2F%2Fapnews.com%2Farticle%2Fskipping-college-student-loans-trade-jobs-efc1f6d6067ab770f6e512b3f7719cc0&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-96"><a href="#cite_ref-96">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFWatney2020" class="citation news cs1">Watney, Caleb (July 19, 2020). <a rel="nofollow" class="external text" href="https://archive.today/20200723034942/https://www.theatlantic.com/ideas/archive/2020/07/americas-innovation-engine-slowing/614320/">"America's Innovation Engine Is Slowing"</a>. The Atlantic. Archived from <a rel="nofollow" class="external text" href="https://www.theatlantic.com/ideas/archive/2020/07/americas-innovation-engine-slowing/614320/">the original</a> on July 23, 2020. Retrieved February 1, 2023.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+Atlantic&rft.atitle=America%27s+Innovation+Engine+Is+Slowing&rft.date=2020-07-19&rft.aulast=Watney&rft.aufirst=Caleb&rft_id=https%3A%2F%2Fwww.theatlantic.com%2Fideas%2Farchive%2F2020%2F07%2Famericas-innovation-engine-slowing%2F614320%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-97"><a href="#cite_ref-97">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFAspegren2021" class="citation news cs1">Aspegren, Elinor (January 28, 2021). <a rel="nofollow" class="external text" href="https://www.usatoday.com/story/news/education/2021/01/28/covid-19-colleges-concordia-new-york-education/4302980001/">"These colleges survived World Wars, the Spanish flu and more. They couldn't withstand COVID-19 pandemic"</a>. USA Today. Retrieved March 1, 2021.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=USA+Today&rft.atitle=These+colleges+survived+World+Wars%2C+the+Spanish+flu+and+more.+They+couldn%27t+withstand+COVID-19+pandemic.&rft.date=2021-01-28&rft.aulast=Aspegren&rft.aufirst=Elinor&rft_id=https%3A%2F%2Fwww.usatoday.com%2Fstory%2Fnews%2Feducation%2F2021%2F01%2F28%2Fcovid-19-colleges-concordia-new-york-education%2F4302980001%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-98"><a href="#cite_ref-98">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFKorn2020" class="citation news cs1">Korn, Melissa (December 29, 2020). <a rel="nofollow" class="external text" href="https://www.wsj.com/articles/pandemic-leads-dozens-of-universities-to-pause-ph-d-admissions-11609261200">"Pandemic Leads Dozens of Universities to Pause Ph.D. Admissions"</a>. Education. Wall Street Journal. Retrieved September 23, 2021.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Wall+Street+Journal&rft.atitle=Pandemic+Leads+Dozens+of+Universities+to+Pause+Ph.D.+Admissions&rft.date=2020-12-29&rft.aulast=Korn&rft.aufirst=Melissa&rft_id=https%3A%2F%2Fwww.wsj.com%2Farticles%2Fpandemic-leads-dozens-of-universities-to-pause-ph-d-admissions-11609261200&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-99"><a href="#cite_ref-99">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFPaterson2018" class="citation news cs1">Paterson, James (July 3, 2018). <a rel="nofollow" class="external text" href="https://www.educationdive.com/news/yet-another-report-says-fewer-americans-value-4-year-degree/526820/">"Yet another report says fewer Americans value 4-year degree"</a>. Education Dive. Retrieved August 2, 2019.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Education+Dive&rft.atitle=Yet+another+report+says+fewer+Americans+value+4-year+degree&rft.date=2018-07-03&rft.aulast=Paterson&rft.aufirst=James&rft_id=https%3A%2F%2Fwww.educationdive.com%2Fnews%2Fyet-another-report-says-fewer-americans-value-4-year-degree%2F526820%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-100"><a href="#cite_ref-100">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFWellemeyer2019" class="citation news cs1">Wellemeyer, James (August 6, 2019). <a rel="nofollow" class="external text" href="https://www.marketwatch.com/story/half-of-young-americans-say-college-isnt-necessary-2019-08-06">"Half of young Americans say college is no longer necessary"</a>. Market Watch. Retrieved August 6, 2019.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Market+Watch&rft.atitle=Half+of+young+Americans+say+college+is+no+longer+necessary&rft.date=2019-08-06&rft.aulast=Wellemeyer&rft.aufirst=James&rft_id=https%3A%2F%2Fwww.marketwatch.com%2Fstory%2Fhalf-of-young-americans-say-college-isnt-necessary-2019-08-06&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-101"><a href="#cite_ref-101">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFStanford" class="citation news cs1">Stanford, Libby. <a rel="nofollow" class="external text" href="https://archive.today/20230225170937/https://www.edweek.org/teaching-learning/college-readiness-shouldnt-be-a-top-priority-for-k-12-anymore-survey-shows/2023/01">"College Readiness Shouldn't Be a Top Priority for K-12 Anymore, Survey Shows"</a>. Education Week. Archived from <a rel="nofollow" class="external text" href="https://www.edweek.org/teaching-learning/college-readiness-shouldnt-be-a-top-priority-for-k-12-anymore-survey-shows/2023/01">the original</a> on February 25, 2023. Retrieved January 20, 2023.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Education+Week&rft.atitle=College+Readiness+Shouldn%27t+Be+a+Top+Priority+for+K-12+Anymore%2C+Survey+Shows&rft.aulast=Stanford&rft.aufirst=Libby&rft_id=https%3A%2F%2Fwww.edweek.org%2Fteaching-learning%2Fcollege-readiness-shouldnt-be-a-top-priority-for-k-12-anymore-survey-shows%2F2023%2F01&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-102"><a href="#cite_ref-102">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFKnott2022" class="citation news cs1">Knott, Katherine (August 12, 2022). <a rel="nofollow" class="external text" href="https://archive.today/20220812140844/https://www.insidehighered.com/news/2022/08/12/survey-highlights-gen-zs-distrust-higher-ed">"Gen Z's Distrust in Higher Ed a 'Red Flag'"</a>. Inside Higher Education. Archived from <a rel="nofollow" class="external text" href="https://www.insidehighered.com/news/2022/08/12/survey-highlights-gen-zs-distrust-higher-ed">the original</a> on August 12, 2022. Retrieved August 21, 2022.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Inside+Higher+Education&rft.atitle=Gen+Z%27s+Distrust+in+Higher+Ed+a+%27Red+Flag%27&rft.date=2022-08-12&rft.aulast=Knott&rft.aufirst=Katherine&rft_id=https%3A%2F%2Fwww.insidehighered.com%2Fnews%2F2022%2F08%2F12%2Fsurvey-highlights-gen-zs-distrust-higher-ed&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-:40-103"><a href="#cite_ref-:40_103-0">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation news cs1"><a rel="nofollow" class="external text" href="https://www.industryweek.com/talent/can-gen-z-save-manufacturing-silver-tsunami">"Can Gen Z Save Manufacturing from the 'Silver Tsunami'?"</a>. Industry Week. July 24, 2019. Retrieved July 27, 2019.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Industry+Week&rft.atitle=Can+Gen+Z+Save+Manufacturing+from+the+%27Silver+Tsunami%27%3F&rft.date=2019-07-24&rft_id=https%3A%2F%2Fwww.industryweek.com%2Ftalent%2Fcan-gen-z-save-manufacturing-silver-tsunami&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-104"><a href="#cite_ref-104">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFShugarman2021" class="citation news cs1">Shugarman, Emily (August 14, 2021). <a rel="nofollow" class="external text" href="https://www.thedailybeast.com/the-fight-to-save-womens-colleges-from-extinction">"The Fight to Save Women's Colleges From Extinction"</a>. U.S. News. The Daily Beast. Retrieved September 8, 2021.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+Daily+Beast&rft.atitle=The+Fight+to+Save+Women%27s+Colleges+From+Extinction&rft.date=2021-08-14&rft.aulast=Shugarman&rft.aufirst=Emily&rft_id=https%3A%2F%2Fwww.thedailybeast.com%2Fthe-fight-to-save-womens-colleges-from-extinction&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-105"><a href="#cite_ref-105">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFDickler2024" class="citation web cs1">Dickler, Jessica (January 24, 2024). <a rel="nofollow" class="external text" href="https://www.cnbc.com/2024/01/24/college-enrollment-picks-up-but-student-loan-debt-is-still-a-sticking-point.html">"College enrollment picks up for the first time in over a decade—but student debt is still a major sticking point"</a>. CNBC. Retrieved February 1, 2024.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=CNBC&rft.atitle=College+enrollment+picks+up+for+the+first+time+in+over+a+decade%E2%80%94but+student+debt+is+still+a+major+sticking+point&rft.date=2024-01-24&rft.aulast=Dickler&rft.aufirst=Jessica&rft_id=https%3A%2F%2Fwww.cnbc.com%2F2024%2F01%2F24%2Fcollege-enrollment-picks-up-but-student-loan-debt-is-still-a-sticking-point.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-106"><a href="#cite_ref-106">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFMarcus2024" class="citation news cs1">Marcus, Jon (April 26, 2024). <a rel="nofollow" class="external text" href="https://hechingerreport.org/colleges-are-now-closing-at-a-pace-of-one-a-week-what-happens-to-the-students/">"Colleges are now closing at a pace of one a week. What happens to the students?"</a>. The Hechinger Report. Retrieved June 30, 2024.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+Hechinger+Report&rft.atitle=Colleges+are+now+closing+at+a+pace+of+one+a+week.+What+happens+to+the+students%3F&rft.date=2024-04-26&rft.aulast=Marcus&rft.aufirst=Jon&rft_id=https%3A%2F%2Fhechingerreport.org%2Fcolleges-are-now-closing-at-a-pace-of-one-a-week-what-happens-to-the-students%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-107"><a href="#cite_ref-107">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFChen2024" class="citation news cs1">Chen, Te-Ping (April 1, 2024). <a rel="nofollow" class="external text" href="https://archive.today/20240410213641/https://www.wsj.com/lifestyle/careers/gen-z-trades-jobs-plumbing-welding-a76b5e43">"How Gen Z Is Becoming the Toolbelt Generation"</a>. Wall Street Journal. Archived from <a rel="nofollow" class="external text" href="https://www.wsj.com/lifestyle/careers/gen-z-trades-jobs-plumbing-welding-a76b5e43">the original</a> on April 10, 2024. Retrieved April 14, 2024.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Wall+Street+Journal&rft.atitle=How+Gen+Z+Is+Becoming+the+Toolbelt+Generation&rft.date=2024-04-01&rft.aulast=Chen&rft.aufirst=Te-Ping&rft_id=https%3A%2F%2Fwww.wsj.com%2Flifestyle%2Fcareers%2Fgen-z-trades-jobs-plumbing-welding-a76b5e43&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-:28-108">^ <a href="#cite_ref-:28_108-0">a</a> <a href="#cite_ref-:28_108-1">b</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFWagner2017" class="citation news cs1">Wagner, John (June 15, 2017). <a rel="nofollow" class="external text" href="https://archive.today/20210220151531/https://www.washingtonpost.com/news/post-politics/wp/2017/06/15/trump-to-tout-apprenticeships-turning-to-an-issue-with-bipartisan-support/">"Trump touts apprenticeships, turning to an issue with bipartisan support"</a>. The Washington Post. Archived from <a rel="nofollow" class="external text" href="https://www.washingtonpost.com/news/post-politics/wp/2017/06/15/trump-to-tout-apprenticeships-turning-to-an-issue-with-bipartisan-support/">the original</a> on February 20, 2021. Retrieved July 12, 2023.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+Washington+Post&rft.atitle=Trump+touts+apprenticeships%2C+turning+to+an+issue+with+bipartisan+support&rft.date=2017-06-15&rft.aulast=Wagner&rft.aufirst=John&rft_id=https%3A%2F%2Fwww.washingtonpost.com%2Fnews%2Fpost-politics%2Fwp%2F2017%2F06%2F15%2Ftrump-to-tout-apprenticeships-turning-to-an-issue-with-bipartisan-support%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-109"><a href="#cite_ref-109">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFWill2023" class="citation news cs1">Will, George F. (April 19, 2023). <a rel="nofollow" class="external text" href="https://archive.today/20230421035949/https://www.washingtonpost.com/opinions/2023/04/19/declining-college-enrollment-value/">"As enrollment plummets, academia gets schooled about where it went wrong"</a>. The Washington Post. Archived from <a rel="nofollow" class="external text" href="https://www.washingtonpost.com/opinions/2023/04/19/declining-college-enrollment-value/">the original</a> on April 21, 2023. Retrieved July 13, 2023.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+Washington+Post&rft.atitle=As+enrollment+plummets%2C+academia+gets+schooled+about+where+it+went+wrong&rft.date=2023-04-19&rft.aulast=Will&rft.aufirst=George+F.&rft_id=https%3A%2F%2Fwww.washingtonpost.com%2Fopinions%2F2023%2F04%2F19%2Fdeclining-college-enrollment-value%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-110"><a href="#cite_ref-110">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFBrownstein2023" class="citation news cs1">Brownstein, Ronald (January 5, 2023). <a rel="nofollow" class="external text" href="https://archive.today/20230116012124/https://www.theatlantic.com/politics/archive/2023/01/biden-economic-job-growth-blue-collar-workers-infrastructure-legislation/672649/">"Biden's Blue-Collar Bet"</a>. The Atlantic. Archived from <a rel="nofollow" class="external text" href="https://www.theatlantic.com/politics/archive/2023/01/biden-economic-job-growth-blue-collar-workers-infrastructure-legislation/672649/">the original</a> on January 16, 2023. Retrieved March 29, 2023.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+Atlantic&rft.atitle=Biden%27s+Blue-Collar+Bet&rft.date=2023-01-05&rft.aulast=Brownstein&rft.aufirst=Ronald&rft_id=https%3A%2F%2Fwww.theatlantic.com%2Fpolitics%2Farchive%2F2023%2F01%2Fbiden-economic-job-growth-blue-collar-workers-infrastructure-legislation%2F672649%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-111"><a href="#cite_ref-111">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFStanford2022" class="citation news cs1">Stanford, Libby (November 14, 2022). <a rel="nofollow" class="external text" href="https://archive.today/20230225172257/https://www.edweek.org/teaching-learning/biden-administration-urges-schools-to-expand-apprenticeships-and-career-learning/2022/11">"Biden Administration Urges Schools to Expand Apprenticeships and Career Learning"</a>. Education Week. Archived from <a rel="nofollow" class="external text" href="https://www.edweek.org/teaching-learning/biden-administration-urges-schools-to-expand-apprenticeships-and-career-learning/2022/11">the original</a> on February 25, 2023. Retrieved February 25, 2023.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Education+Week&rft.atitle=Biden+Administration+Urges+Schools+to+Expand+Apprenticeships+and+Career+Learning&rft.date=2022-11-14&rft.aulast=Stanford&rft.aufirst=Libby&rft_id=https%3A%2F%2Fwww.edweek.org%2Fteaching-learning%2Fbiden-administration-urges-schools-to-expand-apprenticeships-and-career-learning%2F2022%2F11&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-112"><a href="#cite_ref-112">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFSherman2023" class="citation news cs1">Sherman, Mark (June 30, 2023). <a rel="nofollow" class="external text" href="https://apnews.com/article/student-loan-forgiveness-supreme-court-653c2e9c085863bdbf81f125f87669fa">"The Supreme Court rejects Biden's plan to wipe away $400 billion in student loan debt"</a>. Associated Press. Retrieved June 30, 2023.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Associated+Press&rft.atitle=The+Supreme+Court+rejects+Biden%27s+plan+to+wipe+away+%24400+billion+in+student+loan+debt&rft.date=2023-06-30&rft.aulast=Sherman&rft.aufirst=Mark&rft_id=https%3A%2F%2Fapnews.com%2Farticle%2Fstudent-loan-forgiveness-supreme-court-653c2e9c085863bdbf81f125f87669fa&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-113"><a href="#cite_ref-113">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFVan_Dam2022" class="citation news cs1">Van Dam, Andrew (September 2, 2022). <a rel="nofollow" class="external text" href="https://archive.today/20220902104308/https://www.washingtonpost.com/business/2022/09/02/college-major-regrets/">"The most-regretted (and lowest-paying) college majors"</a>. Department of Data. The Washington Post. Archived from <a rel="nofollow" class="external text" href="https://www.washingtonpost.com/business/2022/09/02/college-major-regrets/">the original</a> on September 2, 2022. Retrieved September 21, 2022.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+Washington+Post&rft.atitle=The+most-regretted+%28and+lowest-paying%29+college+majors&rft.date=2022-09-02&rft.aulast=Van+Dam&rft.aufirst=Andrew&rft_id=https%3A%2F%2Fwww.washingtonpost.com%2Fbusiness%2F2022%2F09%2F02%2Fcollege-major-regrets%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-:80-114">^ <a href="#cite_ref-:80_114-0">a</a> <a href="#cite_ref-:80_114-1">b</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFBirrell2020" class="citation news cs1">Birrell, Hamish (November 17, 2020). <a rel="nofollow" class="external text" href="https://www.economist.com/the-world-ahead/2020/11/17/a-golden-age-for-universities-will-come-to-an-end">"A golden age for universities will come to an end"</a>. The Economist. Retrieved December 31, 2020.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+Economist&rft.atitle=A+golden+age+for+universities+will+come+to+an+end&rft.date=2020-11-17&rft.aulast=Birrell&rft.aufirst=Hamish&rft_id=https%3A%2F%2Fwww.economist.com%2Fthe-world-ahead%2F2020%2F11%2F17%2Fa-golden-age-for-universities-will-come-to-an-end&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-:78-115"><a href="#cite_ref-:78_115-0">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFWatanabe2020" class="citation news cs1">Watanabe, Shin (November 4, 2020). <a rel="nofollow" class="external text" href="https://asia.nikkei.com/Politics/International-relations/US-visas-for-Chinese-students-tumble-99-as-tensions-rise2">"US visas for Chinese students tumble 99% as tensions rise"</a>. Nikkei Asia. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20210206005858/https://asia.nikkei.com/Politics/International-relations/US-visas-for-Chinese-students-tumble-99-as-tensions-rise2">Archived</a> from the original on February 6, 2021. Retrieved February 7, 2021.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Nikkei+Asia&rft.atitle=US+visas+for+Chinese+students+tumble+99%25+as+tensions+rise&rft.date=2020-11-04&rft.aulast=Watanabe&rft.aufirst=Shin&rft_id=https%3A%2F%2Fasia.nikkei.com%2FPolitics%2FInternational-relations%2FUS-visas-for-Chinese-students-tumble-99-as-tensions-rise2&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-:22-116">^ <a href="#cite_ref-:22_116-0">a</a> <a href="#cite_ref-:22_116-1">b</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFHigginsFan2012" class="citation news cs1">Higgins, Andrew; Fan, Maureen (May 19, 2012). <a rel="nofollow" class="external text" href="https://archive.today/20140325024706/http://www.washingtonpost.com/world/asia_pacific/chinese-communist-leaders-denounce-us-values-but-send-children-to-us-colleges/2012/05/18/gIQAiEidZU_story.html">"Chinese communist leaders denounce U.S. values but send children to U.S. colleges"</a>. The Washington Post. Archived from <a rel="nofollow" class="external text" href="http://www.washingtonpost.com/world/asia_pacific/chinese-communist-leaders-denounce-us-values-but-send-children-to-us-colleges/2012/05/18/gIQAiEidZU_story.html">the original</a> on March 25, 2014. Retrieved May 17, 2023.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+Washington+Post&rft.atitle=Chinese+communist+leaders+denounce+U.S.+values+but+send+children+to+U.S.+colleges&rft.date=2012-05-19&rft.aulast=Higgins&rft.aufirst=Andrew&rft.au=Fan%2C+Maureen&rft_id=http%3A%2F%2Fwww.washingtonpost.com%2Fworld%2Fasia_pacific%2Fchinese-communist-leaders-denounce-us-values-but-send-children-to-us-colleges%2F2012%2F05%2F18%2FgIQAiEidZU_story.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-117"><a href="#cite_ref-117">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation news cs1"><a rel="nofollow" class="external text" href="https://www.economist.com/leaders/2020/08/08/covid-19-will-be-painful-for-universities-but-also-bring-change">"Covid-19 will be painful for universities, but also bring change"</a>. The Economist. August 8, 2020. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20201203001722/https://www.economist.com/leaders/2020/08/08/covid-19-will-be-painful-for-universities-but-also-bring-change">Archived</a> from the original on December 3, 2020. Retrieved December 3, 2020.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+Economist&rft.atitle=Covid-19+will+be+painful+for+universities%2C+but+also+bring+change&rft.date=2020-08-08&rft_id=https%3A%2F%2Fwww.economist.com%2Fleaders%2F2020%2F08%2F08%2Fcovid-19-will-be-painful-for-universities-but-also-bring-change&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-118"><a href="#cite_ref-118">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFAnderson2023" class="citation news cs1">Anderson, Nick (November 13, 2023). <a rel="nofollow" class="external text" href="https://archive.today/20231114184703/https://www.washingtonpost.com/education/2023/11/13/us-colleges-international-students-increase-post-pandemic/">"With surge from India, international students flock to United States"</a>. The Washington Post. Archived from <a rel="nofollow" class="external text" href="https://www.washingtonpost.com/education/2023/11/13/us-colleges-international-students-increase-post-pandemic">the original</a> on November 14, 2023. Retrieved October 26, 2024.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+Washington+Post&rft.atitle=With+surge+from+India%2C+international+students+flock+to+United+States&rft.date=2023-11-13&rft.aulast=Anderson&rft.aufirst=Nick&rft_id=https%3A%2F%2Fwww.washingtonpost.com%2Feducation%2F2023%2F11%2F13%2Fus-colleges-international-students-increase-post-pandemic&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-119"><a href="#cite_ref-119">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFSeltzer2016" class="citation news cs1">Seltzer, Rick (September 15, 2016). <a rel="nofollow" class="external text" href="https://archive.today/20230517204723/https://www.insidehighered.com/news/2016/09/26/panelists-warn-international-student-bubble">"The International Bubble"</a>. Inside Higher Education. Archived from <a rel="nofollow" class="external text" href="https://www.insidehighered.com/news/2016/09/26/panelists-warn-international-student-bubble">the original</a> on May 17, 2023. Retrieved May 17, 2023.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Inside+Higher+Education&rft.atitle=The+International+Bubble&rft.date=2016-09-15&rft.aulast=Seltzer&rft.aufirst=Rick&rft_id=https%3A%2F%2Fwww.insidehighered.com%2Fnews%2F2016%2F09%2F26%2Fpanelists-warn-international-student-bubble&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-DeltaCost-120">^ <a href="#cite_ref-DeltaCost_120-0">a</a> <a href="#cite_ref-DeltaCost_120-1">b</a> "<a rel="nofollow" class="external text" href="http://www.deltacostproject.org/resources/pdf/Trends-in-College-Spending-98-08.pdf">Trends in College Spending 1998–2008</a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20130808055659/http://www.deltacostproject.org/resources/pdf/Trends-in-College-Spending-98-08.pdf">Archived</a> 2013-08-08 at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a>" (PDF) Delta Cost Project </li> <li id="cite_note-121"><a href="#cite_ref-121">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFClaudia_GoldinLawrence_F._Katz2008" class="citation book cs1"><a href="/wiki/Claudia_Goldin" title="Claudia Goldin">Claudia Goldin</a>; <a href="/wiki/Lawrence_F._Katz" title="Lawrence F. Katz">Lawrence F. Katz</a> (2008). The Race Between Education and Technology. The Belknap Press of Harvard University Press.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=The+Race+Between+Education+and+Technology&rft.pub=The+Belknap+Press+of+Harvard+University+Press&rft.date=2008&rft.au=Claudia+Goldin&rft.au=Lawrence+F.+Katz&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-122"><a href="#cite_ref-122">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFCaplan2018" class="citation book cs1">Caplan, Bryan (2018). The Case Against Education: Why the Education System Is a Waste of Time and Money. Princeton University Press. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0691174655" title="Special:BookSources/978-0691174655"><bdi>978-0691174655</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=The+Case+Against+Education%3A+Why+the+Education+System+Is+a+Waste+of+Time+and+Money&rft.pub=Princeton+University+Press&rft.date=2018&rft.isbn=978-0691174655&rft.aulast=Caplan&rft.aufirst=Bryan&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-123"><a href="#cite_ref-123">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFSimkovic2015" class="citation journal cs1">Simkovic, Michael (2015). "The Knowledge Tax". University of Chicago Law Review. <a href="/wiki/SSRN_(identifier)" class="mw-redirect" title="SSRN (identifier)">SSRN</a> <a rel="nofollow" class="external text" href="https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2551567">2551567</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=University+of+Chicago+Law+Review&rft.atitle=The+Knowledge+Tax&rft.date=2015&rft_id=https%3A%2F%2Fpapers.ssrn.com%2Fsol3%2Fpapers.cfm%3Fabstract_id%3D2551567%23id-name%3DSSRN&rft.aulast=Simkovic&rft.aufirst=Michael&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-124"><a href="#cite_ref-124">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFBenhabibSpiegel1994" class="citation journal cs1">Benhabib, Jess; Spiegel, Mark M. (October 1994). "The role of human capital in economic development evidence from aggregate cross-country data". Journal of Monetary Economics. 34 (2): 143–173. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.1016%2F0304-3932%2894%2990047-7">10.1016/0304-3932(94)90047-7</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Journal+of+Monetary+Economics&rft.atitle=The+role+of+human+capital+in+economic+development+evidence+from+aggregate+cross-country+data&rft.volume=34&rft.issue=2&rft.pages=143-173&rft.date=1994-10&rft_id=info%3Adoi%2F10.1016%2F0304-3932%2894%2990047-7&rft.aulast=Benhabib&rft.aufirst=Jess&rft.au=Spiegel%2C+Mark+M.&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-125"><a href="#cite_ref-125">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFPritchett" class="citation web cs1">Pritchett, Lant. <a rel="nofollow" class="external text" href="https://www.hks.harvard.edu/fs/lpritch/Education%20-%20docs/ED%20-%20Econ%20Growth,%20impact/where%20has%20all%20the%20education%20gone.pdf">"Where has all the education gone?"</a> (PDF). Harvard.edu. World Bank & Kennedy School of Government (2000).</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=Harvard.edu&rft.atitle=Where+has+all+the+education+gone%3F&rft.aulast=Pritchett&rft.aufirst=Lant&rft_id=https%3A%2F%2Fwww.hks.harvard.edu%2Ffs%2Flpritch%2FEducation%2520-%2520docs%2FED%2520-%2520Econ%2520Growth%2C%2520impact%2Fwhere%2520has%2520all%2520the%2520education%2520gone.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-126"><a href="#cite_ref-126">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFHanushekWoessmann2010" class="citation journal cs1">Hanushek, Eric A.; Woessmann, Ludger (December 2010). <a rel="nofollow" class="external text" href="http://repec.iza.org/dp5401.pdf">"How Much Do Educational Outcomes Matter in OECD Countries?"</a> (PDF). IZA Discussion Paper No. 5401.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=IZA+Discussion+Paper+No.+5401&rft.atitle=How+Much+Do+Educational+Outcomes+Matter+in+OECD+Countries%3F&rft.date=2010-12&rft.aulast=Hanushek&rft.aufirst=Eric+A.&rft.au=Woessmann%2C+Ludger&rft_id=http%3A%2F%2Frepec.iza.org%2Fdp5401.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-127"><a href="#cite_ref-127">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFHolmes2013" class="citation journal cs1">Holmes, Craig (May 2013). <a rel="nofollow" class="external text" href="https://ora.ox.ac.uk/objects/uuid:f6531b5b-8c72-4b6a-b726-9554327be28d">"Has the Expansion of Higher Education Led to Greater Economic Growth?"</a>. National Institute Economic Review. 224 (1): R29–R47. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.1177%2F002795011322400103">10.1177/002795011322400103</a>. <a href="/wiki/S2CID_(identifier)" class="mw-redirect" title="S2CID (identifier)">S2CID</a> <a rel="nofollow" class="external text" href="https://api.semanticscholar.org/CorpusID:154479251">154479251</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=National+Institute+Economic+Review&rft.atitle=Has+the+Expansion+of+Higher+Education+Led+to+Greater+Economic+Growth%3F&rft.volume=224&rft.issue=1&rft.pages=R29-R47&rft.date=2013-05&rft_id=info%3Adoi%2F10.1177%2F002795011322400103&rft_id=https%3A%2F%2Fapi.semanticscholar.org%2FCorpusID%3A154479251%23id-name%3DS2CID&rft.aulast=Holmes&rft.aufirst=Craig&rft_id=https%3A%2F%2Fora.ox.ac.uk%2Fobjects%2Fuuid%3Af6531b5b-8c72-4b6a-b726-9554327be28d&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-128"><a href="#cite_ref-128">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFHillman2006" class="citation web cs1">Hillman, Nick (2006). <a rel="nofollow" class="external text" href="https://web.archive.org/web/20101211234238/http://aascu.org/media/pm/pdf/v3n8.pdf">"Student Debt Burden, Volume 3, Number 8, August 2006"</a> (PDF). <a href="/wiki/American_Association_of_State_Colleges_and_Universities" title="American Association of State Colleges and Universities">American Association of State Colleges and Universities</a>. Archived from <a rel="nofollow" class="external text" href="http://www.aascu.org/media/pm/pdf/v3n8.pdf">the original</a> (PDF) on December 11, 2010. Retrieved July 13, 2011.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Student+Debt+Burden%2C+Volume+3%2C+Number+8%2C+August+2006&rft.pub=American+Association+of+State+Colleges+and+Universities&rft.date=2006&rft.aulast=Hillman&rft.aufirst=Nick&rft_id=http%3A%2F%2Fwww.aascu.org%2Fmedia%2Fpm%2Fpdf%2Fv3n8.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-129"><a href="#cite_ref-129">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFVedderDenhart2014" class="citation cs2">Vedder, Richard; Denhart, Christopher (January 8, 2014), <a rel="nofollow" class="external text" href="http://www.aei.org/article/education/how-the-college-bubble-will-pop/">How the College Bubble Will Pop</a>, American Enterprise Institute, retrieved July 12, 2014</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=How+the+College+Bubble+Will+Pop&rft.pub=American+Enterprise+Institute&rft.date=2014-01-08&rft.aulast=Vedder&rft.aufirst=Richard&rft.au=Denhart%2C+Christopher&rft_id=http%3A%2F%2Fwww.aei.org%2Farticle%2Feducation%2Fhow-the-college-bubble-will-pop%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-24tuition-130">^ <a href="#cite_ref-24tuition_130-0">a</a> <a href="#cite_ref-24tuition_130-1">b</a> <a href="#cite_ref-24tuition_130-2">c</a> "<a rel="nofollow" class="external text" href="https://www.nytimes.com/2011/01/24/education/24tuition.html">Public Universities Relying More on Tuition Than State Money</a>", <a href="/wiki/The_New_York_Times" title="The New York Times">The New York Times</a> 2011/01/24 </li> <li id="cite_note-131"><a href="#cite_ref-131">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFQuinn2010" class="citation news cs1">Quinn, Jane (September 24, 2010). <a rel="nofollow" class="external text" href="https://www.cbsnews.com/news/student-loans-time-to-reform-the-law-that-treats-debtors-like-crooks/">"Student Loans: Time to Reform the Law That Treats Debtors Like Crooks"</a>. CBS News. Retrieved January 6, 2018.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.atitle=Student+Loans%3A+Time+to+Reform+the+Law+That+Treats+Debtors+Like+Crooks&rft.date=2010-09-24&rft.aulast=Quinn&rft.aufirst=Jane&rft_id=https%3A%2F%2Fwww.cbsnews.com%2Fnews%2Fstudent-loans-time-to-reform-the-law-that-treats-debtors-like-crooks%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-132"><a href="#cite_ref-132">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFWeissman2015" class="citation web cs1">Weissman, Jordan (April 16, 2015). <a rel="nofollow" class="external text" href="http://www.slate.com/blogs/moneybox/2015/04/16/student_loans_in_bankruptcy_how_the_bush_administration_pointlessly_screwed.html">"How the Bush Administration Pointlessly Screwed Over Student Borrowers"</a>. Slate. Retrieved January 6, 2018.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=Slate&rft.atitle=How+the+Bush+Administration+Pointlessly+Screwed+Over+Student+Borrowers&rft.date=2015-04-16&rft.aulast=Weissman&rft.aufirst=Jordan&rft_id=http%3A%2F%2Fwww.slate.com%2Fblogs%2Fmoneybox%2F2015%2F04%2F16%2Fstudent_loans_in_bankruptcy_how_the_bush_administration_pointlessly_screwed.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-Why_College_Prices_Keep_Rising-133"><a href="#cite_ref-Why_College_Prices_Keep_Rising_133-0">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.forbes.com/sites/peterjreilly/2012/03/19/why-college-prices-keep-rising">"Why College Prices Keep Rising"</a>. Forbes.com. 2012.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=Forbes.com&rft.atitle=Why+College+Prices+Keep+Rising&rft.date=2012&rft_id=https%3A%2F%2Fwww.forbes.com%2Fsites%2Fpeterjreilly%2F2012%2F03%2F19%2Fwhy-college-prices-keep-rising&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-north-134"><a href="#cite_ref-north_134-0">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFGary_North2011" class="citation web cs1"><a href="/wiki/Gary_North_(economist)" title="Gary North (economist)">Gary North</a> (May 2, 2011). <a rel="nofollow" class="external text" href="http://archive.lewrockwell.com/north/north975.html">"College: Why It Is Not a Bubble"</a>. <a href="/wiki/LewRockwell.com" class="mw-redirect" title="LewRockwell.com">LewRockwell.com</a>. Retrieved November 15, 2011.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=College%3A+Why+It+Is+Not+a+Bubble&rft.pub=LewRockwell.com&rft.date=2011-05-02&rft.au=Gary+North&rft_id=http%3A%2F%2Farchive.lewrockwell.com%2Fnorth%2Fnorth975.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> <li id="cite_note-newshour-135"><a href="#cite_ref-newshour_135-0">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation news cs1"><a rel="nofollow" class="external text" href="https://www.pbs.org/newshour/bb/business/jan-june11/college_05-27.html">"Is a College Diploma Worth the Soaring Student Debt?"</a>. <a href="/wiki/PBS_NewsHour" class="mw-redirect" title="PBS NewsHour">PBS NewsHour</a>. May 27, 2011. Retrieved November 16, 2011.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.atitle=Is+a+College+Diploma+Worth+the+Soaring+Student+Debt%3F&rft.date=2011-05-27&rft_id=https%3A%2F%2Fwww.pbs.org%2Fnewshour%2Fbb%2Fbusiness%2Fjan-june11%2Fcollege_05-27.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3AHigher+education+bubble+in+the+United+States" class="Z3988"> </li> </ol></div> <div class="mw-heading mw-heading2"><h2 id="Further_reading">Further reading</h2>[<a href="/w/index.php?title=Higher_education_bubble_in_the_United_States&action=edit&section=8" title="Edit section: Further reading">edit</a>]</div> <ul><li>Angulo, A. (2016). <a rel="nofollow" class="external text" href="https://books.google.com/books?id=jcqnCwAAQBAJ">Diploma Mills: How For-profit Colleges Stiffed Students, Taxpayers, and the American Dream</a>. Johns Hopkins University Press.</li> <li>Armstrong, E. and Hamilton, L. (2015). Paying for the Party: How College Maintains Inequality. Harvard University Press.</li> <li>Bennett, W. and Wilezol, D. (2013). <a rel="nofollow" class="external text" href="https://books.google.com/books?id=AZ9aFGUH-t0C">Is College Worth It?: A Former United States Secretary of Education and a Liberal Arts Graduate Expose the Broken Promise of Higher Education</a>. Thomas Nelson.</li> <li>Best, J. and Best, E. (2014) <a rel="nofollow" class="external text" href="https://books.google.com/books?id=cWznAgAAQBAJ">The Student Loan Mess: How Good Intentions Created a Trillion-Dollar Problem</a>. Atkinson Family Foundation.</li> <li>Caplan, B. (2018). <a rel="nofollow" class="external text" href="https://books.google.com/books?id=Mws8DwAAQBAJ">The Case Against Education: Why the Education System Is a Waste of Time and Money</a>. Princeton University Press.</li> <li>Cappelli, P. (2015). <a rel="nofollow" class="external text" href="https://books.google.com/books?id=DtM_CQAAQBAJ">Will College Pay Off?: A Guide to the Most Important Financial Decision You'll Ever Make</a>. Public Affairs.</li> <li>Golden, D. (2006). The Price of Admission: How America’s Ruling Class Buys its Way into Elite Colleges — and Who Gets Left Outside the Gates.</li> <li>Goldrick-Rab, S. (2016). <a rel="nofollow" class="external text" href="https://books.google.com/books?id=Us3CDAAAQBAJ">Paying the Price: College Costs, Financial Aid, and the Betrayal of the American Dream</a>.</li> <li>Reynolds, G. (2012). The Higher Education Bubble. Encounter Books.</li></ul> <div class="mw-heading mw-heading2"><h2 id="External_links">External links</h2>[<a href="/w/index.php?title=Higher_education_bubble_in_the_United_States&action=edit&section=9" title="Edit section: External links">edit</a>]</div> <ul><li><a rel="nofollow" class="external text" href="https://www.highereddive.com/news/how-many-colleges-and-universities-have-closed-since-2016/539379/">A look at trends in college consolidation since 2016</a>. Higher Ed Dive. Last updated June 18, 2024.</li></ul> <div class="navbox-styles"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><style data-mw-deduplicate="TemplateStyles:r1236075235">.mw-parser-output .navbox{box-sizing:border-box;border:1px solid #a2a9b1;width:100%;clear:both;font-size:88%;text-align:center;padding:1px;margin:1em auto 0}.mw-parser-output .navbox .navbox{margin-top:0}.mw-parser-output .navbox+.navbox,.mw-parser-output .navbox+.navbox-styles+.navbox{margin-top:-1px}.mw-parser-output .navbox-inner,.mw-parser-output .navbox-subgroup{width:100%}.mw-parser-output .navbox-group,.mw-parser-output .navbox-title,.mw-parser-output .navbox-abovebelow{padding:0.25em 1em;line-height:1.5em;text-align:center}.mw-parser-output .navbox-group{white-space:nowrap;text-align:right}.mw-parser-output .navbox,.mw-parser-output .navbox-subgroup{background-color:#fdfdfd}.mw-parser-output .navbox-list{line-height:1.5em;border-color:#fdfdfd}.mw-parser-output .navbox-list-with-group{text-align:left;border-left-width:2px;border-left-style:solid}.mw-parser-output tr+tr>.navbox-abovebelow,.mw-parser-output tr+tr>.navbox-group,.mw-parser-output tr+tr>.navbox-image,.mw-parser-output tr+tr>.navbox-list{border-top:2px solid #fdfdfd}.mw-parser-output .navbox-title{background-color:#ccf}.mw-parser-output .navbox-abovebelow,.mw-parser-output .navbox-group,.mw-parser-output .navbox-subgroup .navbox-title{background-color:#ddf}.mw-parser-output .navbox-subgroup .navbox-group,.mw-parser-output .navbox-subgroup .navbox-abovebelow{background-color:#e6e6ff}.mw-parser-output .navbox-even{background-color:#f7f7f7}.mw-parser-output .navbox-odd{background-color:transparent}.mw-parser-output .navbox .hlist td dl,.mw-parser-output .navbox .hlist td ol,.mw-parser-output .navbox .hlist td ul,.mw-parser-output .navbox td.hlist dl,.mw-parser-output .navbox td.hlist ol,.mw-parser-output .navbox td.hlist ul{padding:0.125em 0}.mw-parser-output .navbox .navbar{display:block;font-size:100%}.mw-parser-output .navbox-title .navbar{float:left;text-align:left;margin-right:0.5em}body.skin--responsive .mw-parser-output .navbox-image img{max-width:none!important}@media print{body.ns-0 .mw-parser-output .navbox{display:none!important}}</style></div><div role="navigation" class="navbox" aria-labelledby="Financial_bubbles" style="padding:3px"><table class="nowraplinks hlist mw-collapsible mw-collapsed navbox-inner" style="border-spacing:0;background:transparent;color:inherit"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1239400231"><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Financial_bubbles" title="Template:Financial bubbles"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Financial_bubbles" title="Template talk:Financial bubbles"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Financial_bubbles" title="Special:EditPage/Template:Financial bubbles"><abbr title="Edit this template">e</abbr></a></li></ul></div><div id="Financial_bubbles" style="font-size:114%;margin:0 4em"><a href="/wiki/Economic_bubble" title="Economic bubble">Financial bubbles</a></div></th></tr><tr><td class="navbox-abovebelow" colspan="2"><div> <ul><li><a href="/wiki/Market_trend" title="Market trend">Market trend</a></li> <li><a href="/wiki/Credit_cycle" title="Credit cycle">Credit cycle</a></li> <li><a href="/wiki/Irrational_exuberance" title="Irrational exuberance">Irrational exuberance</a></li> <li><a href="/wiki/Social_contagion" title="Social contagion">Social contagion</a></li> <li><a href="/wiki/Real-estate_bubble" title="Real-estate bubble">Real-estate bubble</a></li> <li><a href="/wiki/Stock_market_bubble" title="Stock market bubble">Stock market bubble</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Commercial_revolution" title="Commercial revolution">Commercial revolution</a> (1000–1760)</th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Tulip_mania" title="Tulip mania">Tulip mania</a> (1634–1637)</li> <li><a href="/wiki/Mississippi_Company" title="Mississippi Company">Mississippi bubble</a> (1684–1720)</li> <li><a href="/wiki/South_Sea_Company" title="South Sea Company">South Sea bubble</a> (1711–1720)</li> <li><a href="/wiki/Bengal_Bubble_of_1769" title="Bengal Bubble of 1769">Bengal Bubble of 1769</a> (1757–1769)</li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Industrial_Revolution" title="Industrial Revolution">1st Industrial Revolution</a> (1760–1840)</th><td class="navbox-list-with-group navbox-list navbox-even hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Canal_Mania" title="Canal Mania">Canal Mania</a> (c. 1790–c. 1810)</li> <li><a href="/wiki/Carolina_gold_rush" title="Carolina gold rush">Carolina gold rush</a> (1802–1825)</li> <li><a href="/wiki/Alabama_real_estate_bubble_of_the_1810s" title="Alabama real estate bubble of the 1810s">1810s Alabama real estate bubble</a></li> <li><a href="/wiki/Georgia_Gold_Rush" title="Georgia Gold Rush">Georgia Gold Rush</a> (1828–c. 1840)</li> <li><a href="/wiki/Chicago_real_estate_bubble_of_the_1830s" title="Chicago real estate bubble of the 1830s">1830s Chicago real estate bubble</a></li> <li><a href="/wiki/Chilean_silver_rush" title="Chilean silver rush">Chilean silver rush</a> (1830–1850)</li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">1840–1870</th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Railway_Mania" title="Railway Mania">Railway Mania</a> (c. 1840–c. 1850)</li> <li><a href="/wiki/California_gold_rush" title="California gold rush">California gold rush</a> (1848–1855)</li> <li><a href="/wiki/Queen_Charlottes_Gold_Rush" title="Queen Charlottes Gold Rush">Queen Charlottes Gold Rush</a> (1851)</li> <li><a href="/wiki/Victorian_gold_rush" title="Victorian gold rush">Victorian gold rush</a> (1851–c. 1870)</li> <li><a href="/wiki/New_South_Wales_gold_rush" title="New South Wales gold rush">New South Wales gold rush</a> (1851–1880)</li> <li><a href="/wiki/Australian_gold_rushes" title="Australian gold rushes">Australian gold rushes</a> (1851–1914)</li> <li><a href="/wiki/Fraser_Canyon_Gold_Rush" title="Fraser Canyon Gold Rush">Fraser Canyon Gold Rush</a> (1858)</li> <li><a href="/wiki/Pike%27s_Peak_gold_rush" title="Pike's Peak gold rush">Pike's Peak gold rush</a> (1858–1861)</li> <li><a href="/wiki/Rock_Creek_Gold_Rush" title="Rock Creek Gold Rush">Rock Creek Gold Rush</a> (1859)</li> <li><a href="/wiki/Pennsylvania_oil_rush" title="Pennsylvania oil rush">Pennsylvania oil rush</a> (1859–1891)</li> <li><a href="/wiki/Similkameen_Gold_Rush" title="Similkameen Gold Rush">Similkameen Gold Rush</a> (1860)</li> <li><a href="/wiki/Stikine_Gold_Rush" title="Stikine Gold Rush">Stikine Gold Rush</a> (1861)</li> <li><a href="/wiki/Steamboats_of_the_Colorado_River" title="Steamboats of the Colorado River">Colorado River mining boom</a> (1861–1864)</li> <li><a href="/wiki/Otago_gold_rush" title="Otago gold rush">Otago gold rush</a> (1861–1864)</li> <li><a href="/wiki/Cariboo_Gold_Rush" title="Cariboo Gold Rush">Cariboo Gold Rush</a> (1861–1867)</li> <li><a href="/wiki/Gold_mining_in_Nova_Scotia" title="Gold mining in Nova Scotia">First Nova Scotia Gold Rush</a> (1861–1874)</li> <li><a href="/wiki/West_Coast_gold_rush" title="West Coast gold rush">West Coast gold rush</a> (1864–1867)</li> <li><a href="/wiki/Big_Bend_Gold_Rush" title="Big Bend Gold Rush">Big Bend Gold Rush</a> (c. 1865)</li> <li><a href="/wiki/Vermilion_Lake_gold_rush" title="Vermilion Lake gold rush">Vermilion Lake gold rush</a> (1865–1867)</li> <li><a href="/wiki/Kildonan_Gold_Rush" title="Kildonan Gold Rush">Kildonan Gold Rush</a> (1869)</li> <li><a href="/wiki/Omineca_Gold_Rush" title="Omineca Gold Rush">Omineca Gold Rush</a> (1869)</li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Second_Industrial_Revolution" title="Second Industrial Revolution">2nd Industrial Revolution</a> (1870–1914)</th><td class="navbox-list-with-group navbox-list navbox-even hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Lapland_gold_rush" title="Lapland gold rush">1870s Lapland gold rush</a></li> <li><a href="/wiki/Coromandel_Gold_Rushes" title="Coromandel Gold Rushes">Coromandel Gold Rushes</a> (c. 1870–c. 1890)</li> <li><a href="/wiki/Cassiar_Country" title="Cassiar Country">Cassiar Gold Rush</a> (c. 1870–c. 1890)</li> <li><a href="/wiki/Black_Hills_gold_rush" title="Black Hills gold rush">Black Hills gold rush</a> (1874–1880)</li> <li><a href="/wiki/Colorado_Silver_Boom" title="Colorado Silver Boom">Colorado Silver Boom</a> (1879–1893)</li> <li><a href="/wiki/Western_Australian_gold_rushes" title="Western Australian gold rushes">Western Australian gold rushes</a> (c. 1880–c. 1900)</li> <li><a href="/wiki/Indiana_gas_boom" title="Indiana gas boom">Indiana gas boom</a> (c. 1880–1903)</li> <li><a href="/wiki/Petroleum_industry_in_Ohio" title="Petroleum industry in Ohio">Ohio oil rush</a> (c. 1880–c. 1930)</li> <li><a href="/wiki/Tierra_del_Fuego_gold_rush" title="Tierra del Fuego gold rush">Tierra del Fuego gold rush</a> (1883–1906)</li> <li><a href="/wiki/Cayoosh_Gold_Rush" title="Cayoosh Gold Rush">Cayoosh Gold Rush</a> (1884)</li> <li><a href="/wiki/Witwatersrand_Gold_Rush" title="Witwatersrand Gold Rush">Witwatersrand Gold Rush</a> (1886)</li> <li><a href="/wiki/Encilhamento" title="Encilhamento">Encilhamento</a> (1886–1890)</li> <li><a href="/wiki/Cripple_Creek_Gold_Rush" title="Cripple Creek Gold Rush">Cripple Creek Gold Rush</a> (c. 1890–c. 1910)</li> <li><a href="/wiki/Klondike_Gold_Rush" title="Klondike Gold Rush">Klondike Gold Rush</a> (1896–1899)</li> <li><a href="/wiki/Gold_mining_in_Nova_Scotia" title="Gold mining in Nova Scotia">Second Nova Scotia Gold Rush</a> (1896–1903)</li> <li><a href="/wiki/Kobuk_River_Stampede" title="Kobuk River Stampede">Kobuk River Stampede</a> (1897–1899)</li> <li><a href="/wiki/Mount_Baker_gold_rush" title="Mount Baker gold rush">Mount Baker gold rush</a> (1897–c. 1925)</li> <li><a href="/wiki/Nome_Gold_Rush" title="Nome Gold Rush">Nome Gold Rush</a> (1899–1909)</li> <li><a href="/wiki/Fairbanks_Gold_Rush" title="Fairbanks Gold Rush">Fairbanks Gold Rush</a> (c. 1900–1918)</li> <li><a href="/wiki/Texas_oil_boom" title="Texas oil boom">Texas oil boom</a> (1901–1918)</li> <li><a href="/wiki/Cobalt_silver_rush" title="Cobalt silver rush">Cobalt silver rush</a> (1903–1918)</li> <li><a href="/wiki/Porcupine_Gold_Rush" title="Porcupine Gold Rush">Porcupine Gold Rush</a> (1909–1918)</li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Interwar_period" title="Interwar period">Interwar period</a> (1918–1939)</th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Florida_land_boom_of_the_1920s" title="Florida land boom of the 1920s">1920s Florida land boom</a> (c. 1920–1925)</li> <li><a href="/wiki/Fairbanks_Gold_Rush" title="Fairbanks Gold Rush">Fairbanks Gold Rush</a> (1918–c. 1930)</li> <li><a href="/wiki/Texas_oil_boom" title="Texas oil boom">Texas oil boom</a> (1918–1945)</li> <li><a href="/wiki/Cobalt_silver_rush" title="Cobalt silver rush">Cobalt silver rush</a> (1918–c. 1930)</li> <li><a href="/wiki/Porcupine_Gold_Rush" title="Porcupine Gold Rush">Porcupine Gold Rush</a> (1918–1945)</li> <li><a href="/wiki/Kakamega_gold_rush" title="Kakamega gold rush">1930s Kakamega gold rush</a></li> <li><a href="/wiki/Gold_mining_in_Nova_Scotia" title="Gold mining in Nova Scotia">Third Nova Scotia Gold Rush</a> (1932–1942)</li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Post%E2%80%93World_War_II_economic_expansion" title="Post–World War II economic expansion">Post–WWII expansion</a> (1945–1973)</th><td class="navbox-list-with-group navbox-list navbox-even hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Texas_oil_boom" title="Texas oil boom">Texas oil boom</a> (1945–c. 1950)</li> <li><a href="/wiki/Porcupine_Gold_Rush" title="Porcupine Gold Rush">Porcupine Gold Rush</a> (1945–c. 1960)</li> <li><a href="/wiki/Poseidon_bubble" title="Poseidon bubble">Poseidon bubble</a> (1969–1970)</li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Stagflation" title="Stagflation">The Great Inflation</a> (1973–1982)</th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/1970s_commodities_boom" title="1970s commodities boom">1970s commodities boom</a></li> <li><a href="/wiki/Mexican_oil_boom" title="Mexican oil boom">Mexican oil boom</a> (1977–1981)</li> <li><a href="/wiki/Silver_Thursday" title="Silver Thursday">Silver Thursday</a> (1980)</li> <li><a href="/wiki/New_Zealand_property_bubble" title="New Zealand property bubble">New Zealand property bubble</a> (c. 1980–1982)</li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Great_Moderation" title="Great Moderation">Great Moderation</a>/ <a href="/wiki/Great_Regression" class="mw-redirect" title="Great Regression">Great Regression</a> (1982–2007)</th><td class="navbox-list-with-group navbox-list navbox-even hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/1980s_oil_glut" title="1980s oil glut">1980s oil glut</a></li> <li><a href="/wiki/New_Zealand_property_bubble" title="New Zealand property bubble">New Zealand property bubble</a> (1982–)</li> <li><a href="/wiki/Spanish_property_bubble" title="Spanish property bubble">Spanish property bubble</a> (1985–2008)</li> <li><a href="/wiki/Japanese_asset_price_bubble" title="Japanese asset price bubble">Japanese asset price bubble</a> (1986–1990)</li> <li><a href="/wiki/Dot-com_bubble" title="Dot-com bubble">Dot-com bubble</a> (1995–2000)</li> <li><a href="/wiki/Baltic_states_housing_bubble" title="Baltic states housing bubble">Baltic states housing bubble</a> (2000–2006)</li> <li><a href="/wiki/Irish_property_bubble" title="Irish property bubble">Irish property bubble</a> (c. 2000–2007)</li> <li><a href="/wiki/2000s_commodities_boom" title="2000s commodities boom">2000s commodities boom</a> (2000–2008)</li> <li><a href="/wiki/Danish_property_bubble_of_2000s" title="Danish property bubble of 2000s">2000s Danish property bubble</a> (2001–2006)</li> <li><a href="/wiki/2000s_United_States_housing_bubble" title="2000s United States housing bubble">United States housing bubble</a> (2002–2006)</li> <li><a href="/wiki/Romanian_property_bubble" title="Romanian property bubble">Romanian property bubble</a> (2002–2007)</li> <li><a href="/wiki/Polish_property_bubble" title="Polish property bubble">Polish property bubble</a> (2002–2008)</li> <li><a href="/wiki/Canadian_property_bubble" title="Canadian property bubble">Canadian property bubble</a> (2002–)</li> <li><a href="/wiki/Chinese_property_bubble_(2005%E2%80%932011)" title="Chinese property bubble (2005–2011)">Chinese property bubble</a> (2005–2011)</li> <li><a href="/wiki/Lebanese_housing_bubble" title="Lebanese housing bubble">Lebanese housing bubble</a> (2005–2008)</li></ul> <ul><li><a href="/wiki/Chinese_stock_bubble_of_2007" title="Chinese stock bubble of 2007">Chinese stock bubble of 2007</a></li> <li><a href="/wiki/Uranium_bubble_of_2007" title="Uranium bubble of 2007">Uranium bubble of 2007</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Information_Age" title="Information Age">Information Age</a> (2007–present)</th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/2000s_commodities_boom" title="2000s commodities boom">2000s commodities boom</a> (2008–2014)</li> <li><a href="/wiki/Lebanese_housing_bubble" title="Lebanese housing bubble">Lebanese housing bubble</a> (2008–)</li> <li><a href="/wiki/Corporate_debt_bubble" title="Corporate debt bubble">Corporate debt bubble</a> (2008–)</li> <li><a href="/wiki/Australian_property_bubble" title="Australian property bubble">Australian property bubble</a> (2010–)</li> <li><a href="/wiki/Cryptocurrency_bubble" title="Cryptocurrency bubble">Cryptocurrency bubble</a> (2011–)</li> <li><a href="/wiki/Everything_bubble" title="Everything bubble">Everything bubble</a> (2020–21)</li></ul> </div></td></tr><tr><td class="navbox-abovebelow" colspan="2"><div> <ul><li><a href="/wiki/Carbon_bubble" title="Carbon bubble">Carbon bubble</a></li> <li><a href="/wiki/Green_bubble" title="Green bubble">Green bubble</a></li> <li><a href="/wiki/Social_media_stock_bubble" title="Social media stock bubble">Social media stock bubble</a></li> <li><a href="/wiki/Unicorn_bubble" title="Unicorn bubble">Unicorn bubble</a></li> <li><a class="mw-selflink selflink">U.S. higher education bubble</a></li></ul> </div></td></tr></tbody></table></div>    </div><noscript><img src="https://login.wikimedia.org/wiki/Special:CentralAutoLogin/start?type=1x1" alt="" width="1" height="1" style="border: none; position: absolute;"></noscript> <div class="printfooter" data-nosnippet="">Retrieved from "<a dir="ltr" href="https://en.wikipedia.org/w/index.php?title=Higher_education_bubble_in_the_United_States&oldid=1258966953">https://en.wikipedia.org/w/index.php?title=Higher_education_bubble_in_the_United_States&oldid=1258966953</a>"</div></div> <div id="catlinks" class="catlinks" data-mw="interface"><div id="mw-normal-catlinks" class="mw-normal-catlinks"><a href="/wiki/Help:Category" title="Help:Category">Categories</a>: <ul><li><a href="/wiki/Category:Universities_and_colleges_in_the_United_States" title="Category:Universities and colleges in the United States">Universities and colleges in the United States</a></li><li><a href="/wiki/Category:Education_finance_in_the_United_States" title="Category:Education finance in the United States">Education finance in the United States</a></li><li><a href="/wiki/Category:Higher_education_in_the_United_States" title="Category:Higher education in the United States">Higher education in the United States</a></li><li><a href="/wiki/Category:Education_economics" title="Category:Education economics">Education economics</a></li><li><a href="/wiki/Category:Economic_bubbles" title="Category:Economic bubbles">Economic bubbles</a></li><li><a href="/wiki/Category:Education_controversies_in_the_United_States" title="Category:Education controversies in the United States">Education controversies in the United States</a></li></ul></div><div id="mw-hidden-catlinks" class="mw-hidden-catlinks mw-hidden-cats-hidden">Hidden categories: <ul><li><a href="/wiki/Category:Webarchive_template_wayback_links" title="Category:Webarchive template wayback links">Webarchive template wayback links</a></li><li><a href="/wiki/Category:Use_American_English_from_May_2023" title="Category:Use American English from May 2023">Use American English from May 2023</a></li><li><a href="/wiki/Category:All_Wikipedia_articles_written_in_American_English" title="Category:All Wikipedia articles written in American English">All Wikipedia articles written in American English</a></li><li><a href="/wiki/Category:Use_mdy_dates_from_May_2023" title="Category:Use mdy dates from May 2023">Use mdy dates from May 2023</a></li><li><a href="/wiki/Category:Articles_with_short_description" title="Category:Articles with short description">Articles with short description</a></li><li><a href="/wiki/Category:Short_description_is_different_from_Wikidata" title="Category:Short description is different from Wikidata">Short description is different from Wikidata</a></li></ul></div></div> </div> </main> </div> <div class="mw-footer-container"> <footer id="footer" class="mw-footer" > <ul id="footer-info"> <li id="footer-info-lastmod"> This page was last edited on 22 November 2024, at 16:49 (UTC).</li> <li id="footer-info-copyright">Text is available under the <a href="/wiki/Wikipedia:Text_of_the_Creative_Commons_Attribution-ShareAlike_4.0_International_License" title="Wikipedia:Text of the Creative Commons Attribution-ShareAlike 4.0 International License">Creative Commons Attribution-ShareAlike 4.0 License</a>; additional terms may apply. By using this site, you agree to the <a href="https://foundation.wikimedia.org/wiki/Special:MyLanguage/Policy:Terms_of_Use" class="extiw" title="foundation:Special:MyLanguage/Policy:Terms of Use">Terms of Use</a> and <a href="https://foundation.wikimedia.org/wiki/Special:MyLanguage/Policy:Privacy_policy" class="extiw" title="foundation:Special:MyLanguage/Policy:Privacy policy">Privacy Policy</a>. Wikipedia® is a registered trademark of the <a rel="nofollow" class="external text" href="https://wikimediafoundation.org/">Wikimedia Foundation, Inc.</a>, a non-profit organization.</li> </ul> <ul id="footer-places"> <li id="footer-places-privacy"><a href="https://foundation.wikimedia.org/wiki/Special:MyLanguage/Policy:Privacy_policy">Privacy policy</a></li> <li id="footer-places-about"><a href="/wiki/Wikipedia:About">About Wikipedia</a></li> <li id="footer-places-disclaimers"><a href="/wiki/Wikipedia:General_disclaimer">Disclaimers</a></li> <li id="footer-places-contact"><a href="//en.wikipedia.org/wiki/Wikipedia:Contact_us">Contact Wikipedia</a></li> <li id="footer-places-wm-codeofconduct"><a href="https://foundation.wikimedia.org/wiki/Special:MyLanguage/Policy:Universal_Code_of_Conduct">Code of Conduct</a></li> <li id="footer-places-developers"><a href="https://developer.wikimedia.org">Developers</a></li> <li id="footer-places-statslink"><a href="https://stats.wikimedia.org/#/en.wikipedia.org">Statistics</a></li> <li id="footer-places-cookiestatement"><a href="https://foundation.wikimedia.org/wiki/Special:MyLanguage/Policy:Cookie_statement">Cookie statement</a></li> <li id="footer-places-mobileview"><a href="//en.m.wikipedia.org/w/index.php?title=Higher_education_bubble_in_the_United_States&mobileaction=toggle_view_mobile" class="noprint stopMobileRedirectToggle">Mobile view</a></li> </ul> <ul id="footer-icons" class="noprint"> <li id="footer-copyrightico"><a href="https://wikimediafoundation.org/" class="cdx-button cdx-button--fake-button cdx-button--size-large cdx-button--fake-button--enabled"><img src="/static/images/footer/wikimedia-button.svg" width="84" height="29" alt="Wikimedia Foundation" loading="lazy"></a></li> <li id="footer-poweredbyico"><a href="https://www.mediawiki.org/" class="cdx-button cdx-button--fake-button cdx-button--size-large cdx-button--fake-button--enabled"><img src="/w/resources/assets/poweredby_mediawiki.svg" alt="Powered by MediaWiki" width="88" height="31" loading="lazy"></a></li> </ul> </footer> </div> </div> </div> <div class="vector-settings" id="p-dock-bottom"> <ul></ul> </div><script>(RLQ=window.RLQ||[]).push(function(){mw.config.set({"wgHostname":"mw-web.codfw.main-f69cdc8f6-24l65","wgBackendResponseTime":146,"wgPageParseReport":{"limitreport":{"cputime":"1.472","walltime":"1.778","ppvisitednodes":{"value":7111,"limit":1000000},"postexpandincludesize":{"value":300868,"limit":2097152},"templateargumentsize":{"value":2785,"limit":2097152},"expansiondepth":{"value":12,"limit":100},"expensivefunctioncount":{"value":9,"limit":500},"unstrip-depth":{"value":1,"limit":20},"unstrip-size":{"value":508189,"limit":5000000},"entityaccesscount":{"value":0,"limit":400},"timingprofile":["100.00% 1557.713 1 -total"," 63.19% 984.348 1 Template:Reflist"," 31.68% 493.456 88 Template:Cite_news"," 10.96% 170.715 1 Template:Education_in_the_U.S."," 10.81% 168.426 1 Template:Sidebar"," 9.29% 144.653 11 Template:Cite_journal"," 9.07% 141.335 23 Template:Cite_web"," 7.04% 109.641 1 Template:Short_description"," 4.63% 72.169 1 Template:Financial_bubbles"," 4.14% 64.508 1 Template:Navbox"]},"scribunto":{"limitreport-timeusage":{"value":"0.922","limit":"10.000"},"limitreport-memusage":{"value":7371866,"limit":52428800},"limitreport-logs":"table#1 {\n [\"size\"] = \"tiny\",\n}\ntable#1 {\n [\"size\"] = \"tiny\",\n}\n"},"cachereport":{"origin":"mw-web.eqiad.main-5dc468848-8nvzv","timestamp":"20241122164919","ttl":2592000,"transientcontent":false}}});});</script> <script type="application/ld+json">{"@context":"https:\/\/schema.org","@type":"Article","name":"Higher education bubble in the United States","url":"https:\/\/en.wikipedia.org\/wiki\/Higher_education_bubble_in_the_United_States","sameAs":"http:\/\/www.wikidata.org\/entity\/Q5758325","mainEntity":"http:\/\/www.wikidata.org\/entity\/Q5758325","author":{"@type":"Organization","name":"Contributors to Wikimedia projects"},"publisher":{"@type":"Organization","name":"Wikimedia Foundation, Inc.","logo":{"@type":"ImageObject","url":"https:\/\/www.wikimedia.org\/static\/images\/wmf-hor-googpub.png"}},"datePublished":"2010-08-06T06:37:13Z","dateModified":"2024-11-22T16:49:12Z","image":"https:\/\/upload.wikimedia.org\/wikipedia\/commons\/c\/c0\/Tuition_cost_of_college.png","headline":"economic theory"}</script> </body> </html>