Paul Schumer and Jim Miller, two analysts at a research institute, discuss the rising costs of higher education in their country. Paul feels that escalating tuition fees in colleges and universities are indicative of a bubble in the higher education market. According to Jim, however, the rising costs are the result of better quality education being provided by the institutions in recent years.
Which of the following, if true, will support Paul's claim that there is a bubble in the higher education market?
A. Education costs doubled in the last decade, whereas national income increased 2.5 times during the same period.
B. Colleges are now offering a greater variety of weekend courses for working students.
C. The college drop-out rate has considerably declined in the past two years in the country.
D. The student loan sector is threatened by increasing default rates.
E. More and more foreign students are enrolling in PhD programs in various universities.