Applying for financial aid? Student loans are a mortgage on your future and no one is educating borrowers

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By Walter Myers III

In 2019, more high school graduates than ever will be heading to college — which is the good news.

But tuition costs are skyrocketing; the cost of college has increased more than sevenfold since 1983. Students are regularly taking more than four years to graduate. Students are taking out more and more in loans, both public and private, to cover the costs, and the federal government has reacted by ratcheting up the amount people can borrow.

And Washington already owns or guarantees $1.4 trillion in student loan debt to nearly 43 million borrowers.

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