HIGHER EDUCATION BUBBLE – LEGAL EDITION UPDATE: “Following the [Obama-era] Gainful Employment regulations, Gillen divides law schools into three categories: pass (where the typical graduate’s debt payments are no higher than 8.6 percent of earnings), probation (between 8.6 percent and 12.8 percent) and fail (more than 12.8 percent of earnings)… 73 percent of the schools for which Gillen was able to get data (168 schools) fail.” Yeesh.