Well, yes and no. I think the really big thing is that it keeps talking about for-profit schools, which are a problem exactly like they said (actually much more, because they often lie to students about how much it will cost, how much aid they can get, etc – a few have been sued for fraud), but most schools aren’t for-profit. All state schools, and most private schools, aren’t the schools they’re talking about.
As an article, it’s a bit… meh. Like this opening line “Yet for all the moralizing about American consumer debt by both parties, no one dares call higher education a bad investment.” Um, yeah, actually, everyone says it’s a bad investment. It was actually pretty big news when some study came out (recently) and said, no, actually, you will at least break even – maybe not earn tons more money like you thought, but you will at least not be flushing money down the toilet like everyone says. Seriously, I find at least one article telling me how student loans will ruin my life forever (unless I go for something extra-useful, like engineering – even if I have a plan for putting my liberal arts degree to use in an actual career, not just being able to talk about philosophy and history while waiting tables) per week.
Student loans are a huge, huge problem. It is a bubble, we are heading for a crisis. But, I’m not sure that article really does the issue any justice.