HIGHER EDUCATION BUBBLE UPDATE: Republican Rubio calls U.S. higher education system ‘cartel,’ urges overhaul.

Republican presidential candidate Marco Rubio on Tuesday called for an overhaul of the U.S. higher education system, saying colleges were operating as a “cartel” and were not meeting the needs of students or the economy.

“We do not need timid tweaks to the old system. We need a holistic overhaul,” Rubio said in a policy speech in Chicago. “We need to change how we provide degrees, how those degrees are accessed, how much that access costs, how those costs are paid, and even how those payments are determined.”

Well, he’s right.