My masters thesis was on the student loan crisis. I was able to tease out statistical significance that institutions accredited via Federal accreditation (which only started in the 80s to approve student loans for institutions that could not pass the more prestigious and industry-created regional accreditation) had more defaulted loans and are largely responsible for the student loan crisis.

When feds step in to say "oh no these experts are wrong, let's give money to these institutions anyways" it is not a good and efficient use of funds!

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