The real student loan scam

A welfare program for banks

Return on equity: 51%

Student loans are actually a welfare program for banks.

Investigative journalist David Cay Johnston lays out how it works.

Decades ago, it was doable – hard, but doable – to work your way through college.

Now thanks to the student loan system, banks get rich, universities feel free to build empires and jack up their raites to insane levels, and students get left.

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