The private student loan industry is not happy with Obama's plan to change the game on them; they make crazy amounts of money, and if you recall, there was a big scandal a few years ago about gaming the system so that the loan officers would recommend loans with whatever company made it most beneficial to the school. I believe that was mostly for-profit institutions but could be wrong on that.
It used to be that people could get part time jobs and work their way through school. Tuition costs have escalated so that isn't possible. It's even worse once you get into advanced degrees.
Remind me now, why did we do this?
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