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Rapidly, 27% at public institutions since 2007, and 13% bump at already more expensive private schools. availability of aid led to massive overconsumption and noncompletion of higher education. more than 40% of full time students failed to complete their degree within six years. >> were kind of dooping students by saying look, everybody should go to college because the lifetime payoff of getting a degree is much bigger than whatever debt you take on. on average, thats true. what it ignores is hu...