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The Student Debt Dilemma With Constantine Yannelis

Capitalisn't

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Universitia Is the Goldman Sax of the Situation

CNN's John Sutter looks at the strange system that we have. He says four profit colleges are responsible for 60% of student loan defaults. The cost of defaulting is so incredibly punitive, he argues. Colleges will still continue to accelerate their tuition costs because they won't be able to afford it. Why not wipe out the debt and then take steps to prevent this from happening again?

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