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The Debt Trap

How Student Loans Became a National Catastrophe
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"In 1981, a new executive at Sallie Mae took home the company's financial documents to review. "You've got to be shitting me," he later told the company's CEO. "This place is a gold mine." Over the next four decades, the student loan industry that Sallie Mae and Congress created blew up into a crisis that would submerge a…

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