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The Inequality Consequences of Higher Education
Many societies in which higher education is either very expensive or very risky because it's expensive but can be paid through a loan. The consequence of that is that those who can afford to take the risk will be the only one pursuing higher education so your point is perfectly rational if I am from the lower or middle classes given the chance that I will fail to perform or to repay the debt I'd rather stick to a kind of a lower level of education. Putting a big emphasis on death and a big cost on education isn't optimal not because it basically contains the overall educational problem but because it distorts the talent acquisition process It favors the upper classes against the lower classes independently on talent and skill.