Not defending student loans or the entire predatory infrastructure that supports them, but rates on all unsecured loans are nasty.

Home loans can be cheap because they are secured by the value of the house: if you default, the bank thinks it can sell your house and still make a profit.

Unsecured loans yield nothing when they go bad, so they have absurd interest rates whether the loan is for education, business, or whatever. That’s why many people choose to eg take out a second mortgage when starting a business: better interest rates, because it is secured, but you lose your house if your business fails.