Detailed text transcripts for TV channel - MSNBC - 20130822:16:11:00
Well, borrow the money. it's low interest rates. it's easy to get and then of course universities responded by doing what? well, they can get away with raising the price. there was a freak-onomics aspect to it. the universities, the more expensive they were, the more valuable they seemed, the more exclusive they seemed. applications would go up for the more expensive institutions, not down. there's never been -- the problem is, i think the consumer in this case, which is the high school graduate, thinking about going to college, doesn't -- values the expensive is the value here, not the cheap....
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