Hot off the presses (St. Martin’s) is Charles Sykes’ new book, Fail U. — The False Promise of Higher Education.

Sykes came to my attention some 20 years ago with two books that took a dim view of higher education back when the overwhelming consensus was that our higher education system was the envy of the world and just needed more money: Profscam and The Hollow Men. History has validated his earlier criticisms and I’m eager to dive into his new book.

Here’s what he writes about the higher ed bubble. “The education bubble bursts when puffery is confronted by reality. Increasingly, the economic model of higher education no longer works for many students, who realize belatedly that they have placed themselves in a financial stranglehold for unmarketable degrees.” Precisely.

The one point where I think I may take issue with Sykes is the talking point in the publisher’s release, stating “Too many drop out without ever getting a degree.” I’d argue that the problem isn’t students who drop out without getting a degree, but rather than not enough drop out when it should be apparent that the prospective benefits are considerably less than the inevitable costs.