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How Schools Lie

The deceptive financial aid system at America's colleges.

No matter how talented, hard working, and committed a student is, if financing falls through, the dream of obtaining higher education can be dashed. But much of the financial data that prospective students receive is misleading. In the cost information…


The Student Debt Crisis is a Crisis of Non-Repayment

Borrowers are increasingly unable to pay down their student loans, leading to mounting balances and an intensifying debt crisis.

Think of the student debt crisis as an overflowing bathtub. On the one hand, too much water is pouring in: more borrowers are taking on more debt. That is thanks to increased demand for higher education in the face of…

December 9, 2019

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Like many systems of social provision—from housing to pensions—American education has become increasingly financialized. In a recent paper, Charlie Eaton, Jacob Habinek, Adam Goldstein, Cyrus Dioun, Daniela García Santibáñez Godoy, and Robert Osley-Thomas consider the scope and consequences of financialization…

March 2, 2019

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Household debt has proliferated in the past decade. In the final quarter of 2018, it reached $13.54 trillion—an $869 billion increase since the previous peak in 2008 and a 21.4% increase since the post-crisis trough. While it is now widely…

May 19, 2018

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EACH POINT ON THE CHAIN Arguments for Value-Added Tax in the US, and using VAT to fund basic income VAT The Wall Street Journal lays out the basics popup: yes: “Unlike a traditional sales tax, a VAT is a levy…