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<p>Thank you. I see it as being analogous to polygamy. A lot of men support legal polygamy because they like the idea of having multiple wives. It does not occur to them that polygamy will also allow other men to have multiple wives so they are actually likely to end up worse off.</p>
<p>Similarly, when a lot of people think about student loans, it seem good that they can borrow money for college or law school. It does not occur to them that if other, more foolish, people can borrow, those people will bid up tuition levels and they will end up worse off.</p>