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i think it’s less strategic than this. college serves a deeply mythical function in america. ppl still clinging onto a (afaik false) hope that it will guarantee success / a job / access to the middle class. this is why universal free college is a thing people are excited about
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there is a benefit! parents get to feel like they did the right thing if they send their kids to college. kids get to fuck around in college. colleges get money. but there's a principal-agent problem here; none of this is for the benefit of the kids *post-graduation*