American universities are renowned for their progress and innovation, yet our nation's student loan market is in crisis. The rising cost of tuition, combined with the exorbitant cost of debt, deters many young Americans from attending college or leaves them with incredibly burdensome debt afterwards.
Nearly two-thirds of American undergraduates will finish college with an average of $19,000 in debt. Much of this spiraling debt is due to a dearth of knowledge by students and misaligned incentives with financial institutions....
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