If it was all delegated to them, it might work. But what you have instead is 50 secondary layers of bureaucracy, while the Federal govt holds firm control of th

If it was all delegated to them, it might work. But what you have instead is 50 secondary layers of bureaucracy, while the Federal govt holds firm control of the student loan market, and imposes control and regulation on colleges, using both carrot (R&D money) and stick (loans).