To be fair to universities, at the same time that happened, states have been decreasing funding. Also, topheavy administration is everywhere, not just education

To be fair to universities, at the same time that happened, states have been decreasing funding. Also, topheavy administration is everywhere, not just education, part of the unnecessary MBA-ification of everything. And there would be no demand for loans if corporations weren't trying to offload all their employee financial responsibilities in every way possible: just as companies are reclassifying everyone as consultants and freelancers, and decreasing everything to part-time, they stopped seeing themselves as providing career training to anyone, expecting people to do that themselves at universities and through unpaid internships. So I wouldn't blame much on US backed government loans. The US government could offer free loans for people wanting to get Justin Bieber tattoos, and it would increase tattooing I'm sure, but wouldn't cause a generational economic crisis.