Higher Education Bubble Update

From Glenn Reynolds' Instapundit:

HIGHER EDUCATION BUBBLE UPDATE: Are We Subsidizing Student Debt Too Generously? “Why am I subsidizing student loans for Harvard kids? . . . I have no idea why. It never made sense to me even when I was at Harvard. Harvard has a huge endowment, and just hoards it. It’s not mostly for the students. As the Dean of Harvard Law School publicly said then, students are merely ‘incidental.’”