A grad school degree is a thing to flaunt on your resume—and it's a time-honored pursuit when the job market dries out. But nowadays, fewer people are heading for post-college dresses according to a report released by the Council of Graduate Schools. Enrollment rates are dropping for the first time since 2003. It comes as a bit of a surprise because enrollments generally rise when the economy dips. So what are the causes for this sudden lack of interest in higher education?

Well, for starters: grad school is expensive. When you're going for a master's degree, you're likely to be footing the bill without the guarantee of a high-paying job waiting for you once you get your diploma. (Example: Law school graduates with crippling law school debt and few job options.) As the recession continues, employers are extending fewer educational benefits to employees. And if you're hoping for a job change, you're probably not expanding the skill set required for your current employment.

But maybe the real reason is that graduate students are the worst?