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Jeff Jacoby

The higher-ed bubble will inevitably burst

‘If you want to go to college,” my mother said, “you’ll have to get a scholarship.”

Luckily, I did. I was admitted to George Washington University, which generously awarded me a grant covering the full cost of my tuition. To the best of my recollection, that sum was $2,400 in 1975, the year I entered GW. To pay for my other expenses there were several forms of need-based financial aid, and I received what is now called a Pell Grant and a subsidized work-study job on campus.

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