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Billionaire Michael Bloomberg launched his campaign for president by spending hundreds of millions of dollars on advertisements to boost his poll numbers. Yesterday, he released a policy proposal to address the cost of higher education. Unsurprisingly, Bloomberg would not cancel student debt or make all public colleges free (as Bernie Sanders proposes). Instead, he would place all student debtors in an income-driven repayment plan so that payments are taken directly from borrowers’ paychecks. This plan is a neoliberal technocrat’s wet dream. It would treat student debtors as isolated individuals who must make payments tailored to their specific situations and according…

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