Bubble Watch

We're keeping an eye on the education bubble that keeps Tompkins County afloat.  From the WSJ:

Mr. Schwartz, 18 years old, was accepted at Cornell University but enrolled instead at City University of New York's Macaulay Honors College, which is free.

Mr. Schwartz says his family could have afforded Cornell's tuition, with help from scholarships and loans. But he wants to be a doctor and thinks medical school, which could easily cost upward of $45,000 a year for a private institution, is a more important investment. It wasn't "worth it to spend $50,000-plus a year for a bachelor's degree," he says.

Read it all.