Lots has been written, and will be written over next few months/years, about the bubble in education, esp higher education. Eg. here is an article on it from The Economist a year ago. http://www.economist.com/node/16960438
Here’s just one reason why higher education is going to be majorly disrupted: universities are in truth run by professors and not by administrators, and most university professors are not interested in teaching. They see that as a pain in the ass that has to be dealt with. Public on the other hand sees that as an important part of their job. Certainly students do. That’s a major disconnect. And the day general population realizes that a boat load of their money gets spent on fruitless research in areas that nobody cares about, that public funding in the name of social good might just go the way of the NASA. Universities better realize that and start figuring out what their benefit is to the general society AND to their student population. And how to make supply-demand work for their students. It would be a pity if research universities were to face tremendous shortfalls in budgets. But if they don’t innovate and stay ahead of the curve, they are only waiting for the inevitable to happen to them.