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Opinion
Gary Shilling

Higher Education Needs a Financing Overhaul

“This hat cost me $110K.” That was the message a 2012 graduate displayed on her mortarboard at her university commencement.

The recent flare-up over huge student-loan balances, especially among jobless recent college graduates, is exposing deep flaws in the way higher education is financed. Historically, the U.S. has always emphasized education as the route to financial success. In much of Europe, the link between education and economic achievement has never been as deeply ingrained.