why the cost of college has skyrocketed in the past 20-30 years.
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Most students take out loans to pay for college, but those loans don’t come from the college. When students can’t pay, the college doesn’t care – they got paid already. Since it’s generally accepted that you have to go to college to get a good middle-class job (and said jobs are expecting you to go to college), anyone who wants one has to go to college no matter what the pricetag is. So as long as there’s not any significant competition on price, colleges can charge basically whatever they want and continue to make money.
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