The amount of outstanding student loans has more than doubled over the past decade. Part of that explosion has to do with tuition, fees and costs growing faster than the rate of inflation. But it’s clear that another factor is that many families had no way of discerning exactly what they were signing up for in the first place.
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The college admissions bribery scandal has raised an important question: Is college worth it? According to the Social Security Administration “Men with bachelor's degrees earn approximately $900,000 more in median lifetime earnings than high school graduates. Women with bachelor's degrees earn $630,000 more.” But that “wage premium” varies depending on which college you attend.
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