No to a student loan bailout. No to debt-free state schools. Prepare to be enlightened, if a bit disheartened, as our friend Adam Davidson explains why eliminating college debt falls short of solving the country’s inequality crisis. Davidson is a contributing writer for the New Yorker. For the Spiel, it’s another Lobstar of the Antentwig. Today’s sponsor: Placemakers, a new Slate podcast made possible by JPMorgan Chase. This podcast tells the stories of neighborhoods, businesses, and nonprofits that are working together to move their communities forward. Download and subscribe to Placemakers wherever you get your podcasts. Join Slate Plus! Members get bonus segments, exclusive member-only podcasts, and more. Sign up for a free trial today at slate.com/gistplus.