Curiously, the phrase "education bubble" has not appeared at all in the NYT, although it has appeared many times in the blogs that the newspaper hosts. Googling the phrase gets 39,000 hits. Rises and falls in tuition get plenty of coverage, but that doesn't show that the reporters are aware of the irrational bubble -- they just think it's unfair, that college should be cheaper so that more can attend. But just as no one was allowed to say that most low-income borrowers were undeserving of home loans since they were disproportionately black and Hispanic, so we aren't allowed to say that a lot of college students are nowhere near being "college material" -- that would violate the "demotic life and times," as Jacques Barzun has dubbed the zeitgeist from roughly the 1960s until today. We cripple our minds by imbibing political correctness.
— Gene Expression, An education bubble? Data from the explosion of AP tests
Thanks to razibkhan.