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This paper offers a normative exploration of a modern policy debate: how should we fund higher education? Applying Satz’s work in moral economics, I argue that the American postsecondary funding model qualifies as a noxious market, undermining the co-participatory relationship between democratic citizens. I further contend that free public college for all best resolves this underlying injustice and, through this, better achieves the economic and personal benefits college is expected to promote.