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Barry Ritholtz has a useful infographic showing just how education loans have become the latest way that the banks keep us in debt slavery.
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Note that the value of outstanding student loans is now larger than that of credit card debt, and its holders cannot discharge it through bankruptcy, ever.
This goes hand in hand with changes in the job market, where jobs that do not require a college to degree require a college degree to get, along with the explosion of for-profit schools that make false promises of a career in order to get you to overpay for trade school.
It really is remarkable just how predatory our society has become.
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