Is a college bubble about to burst? The Economist says U.S. universities are in a precarious financial position and the price of a college degree is rising faster than the value colleges are adding to that degree.
WITH its leafy avenues and Gothic buildings, the University of Chicago seems a sober, solid sort of place. John D. Rockefeller, whose money built it, said it was the “best investment I ever made”. Yet Chicago and other not-for-profit American universities have been piling on the debt as if they were high-tech start-ups.