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Manhattan Moment: Is the higher education bubble finally bursting?

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Earlier this week, the Wall Street Journal reported that private colleges are seeing precipitous declines in enrollment. From 2010 to 2012, more than a quarter of all private colleges saw their incoming classes shrink by 10 percent. In contrast, from 2006 to 2009, fewer than 20 percent of private institutions experienced decreases of this magnitude. This decline resembles similar trends...