Hence why the federal government backs nearly every student loan either directly or indirectly. None of the private banks risk their own money in this market, a

Hence why the federal government backs nearly every student loan either directly or indirectly. None of the private banks risk their own money in this market, as the feds have happily hand them cash and encourage said banks to loan it out! This has resulted in costs spiraling out of control, as universities can charge whatever they want with minimal repercussions, and students often end up with the STD known as student loans haunting them for the rest of their lives.