That's right. At the state university where I work, tuition is $8,200. HOWEVER, a senior student living on campus showed me her TOTAL bill for this year... $21,500! Room and board is $9,000. There was more than $4,000 in various "fees." Oh - that $21,500 bill didn't include her books and lab fees (more than $1,000) and other expenses. She says her total bill for four years will easily be $90,000. By the way, we're a small "cheap" state university of 10,000 students.
As for the bubble, our enrollment has dropped 17% in the last six years. The hardest-hit majors are ones like communication, sociology, women's studies, art - that's because people are beginning to flee from majors that don't translate to real-world jobs.