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Why the college bubble won’t pop

greyenlightenment.com
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small nitpick - the 250k number you quote as being wrong is different from the source you linked. $250k in total spending over 4 years of undergrad seems reasonable if you account for rent and cost of living expenses in addition to tuition (although still a bit high). Your figure is just the total student debt at graduation, which is typically only for tuition. So its describing two different figures.