Read more at : MeganMcardle.com: Is the MBA Going Away? 9July 2013

… it is the graduate schools that the collapse has begun. That doesn’t mean that graduate education will go away (after all, neither tulip bulbs nor stock exchanges went away when those bubbles collapsed); rather, the market will get dramatically smaller, with the shakiest programs going bust, others retrenching, and the top ones continuing to draw more students than they can enroll. If it spreads to college, we should expect to see the same pattern: top tier schools surviving and even thriving, while lesser ranked schools pitched into financial crises by declining enrollment.

Also: Don’t Go to Business School! by Megan McArdle at The Daily Beast Jan 9, 2013 10:36 AM

Unless you can get into a top program, professional school may cause more problems than it solves