The universities and loan compaines win. Who loses? The chump who gets left holding the bag ... taxpayers. As usual.

I guess the political party who is doling out the money? They get more votes because they get to be the saviors.

Not sure, but it does seem like a way to make people reliant on your political party.

When tuition was $1000 (which it used to be in 1970) no one was talking about how getting an English degree could be a catastrophic financial decision. At worst it was a waste of time.

Instead of funding universities and managing them like we should be, we handed them over to MBAs who seem to charge more and more every year for the same degree.

Obviously federally-guaranteed loans are an idiotic solution to a self-inflicted problem.