The student loan problem cannot be fixed until we face two fundamental problems: (1) loans must be made on the basis of the quality of the asset they are being lent against, and (2) we cannot use loans in place of grants when grants are needed.https://www.nytimes.com/interactive/2018/08/25/opinion/sunday/student-debt-loan-default-college.html …
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I’m not totally surprised. There’s enough selection bias in who attends private schools to skew results positively, and top tier schools have actually eliminated loans from their mix for most students. If your household makes less than 150K/yr, Harvard is cheaper than a UC.
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100%. It’s *highly* correlated to parental household income and selection. You’re paying full price at university of Phoenix or your local community college, and generally the weakest students go there, but all loans backed by Uncle Sam. Pretty predictable tbh.
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