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This is the inevitable consequence of an interwoven set of largely unchallenged assumptions: the concept a university degree—and increasingly, because of rampant credential inflation, a graduate diploma—should serve as a type of minimal entrance requirement into the shrinking American center class; the widespread belief that educational debt is all the time good” debt; the associated perception that the higher earnings of degreed staff are wholly attributable to greater training, versus being significantly correlated with it; the presumption that unlimited federal mortgage cash ought to finance these beliefs; and the quiet acceptance of the reckless spending throughout the academy that all this money has entailed.
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