The cost of a college degree has increased by 1,125% since 1978―four times the rate of inflation. Total student debt has surpassed $1.3 trillion. Nearly two thirds of all college students must borrow to study, and the average student graduates with more than $30,000 in debt. Many college graduates under twenty-five years old are unemployed or underemployed. And professors―remember them?―rarely teach undergraduates at many major universities, instead handing off their lecture halls to cheaper teaching assistants
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