I cannot think of a market that is more dysfunctional in America right now than education. Total student debt topped US$1.5 trillion (S$2.1 trillion) this year and a Brookings study found that nearly 40 per cent of those borrowers are likely to default on their loans by 2023.
Some of the borrowers will have attended predatory for-profit colleges, for which the Trump administration recently loosened regulations.
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