Jack Kelly: The big college scam. "t's bad enough; the president's loan initiative will make it that much worse  —  The biggest consumer ripoff in America today — and the next economic bubble to burst — is higher education.  —  Tuition and fees at colleges and universities rose 439 percent between 1982 and 2007." I'd agree in areas like women' studies and education. But not in physics, chemistry or applied sciences.