There doesn't need to be competition if anyone can 'afford' it through a government-subsidized loan. It's not exactly a shocking recent revelation either: http

There doesn't need to be competition if anyone can 'afford' it through a government-subsidized loan. It's not exactly a shocking recent revelation either: https://www.nytimes.com/1987/02/18/opinion/our-greedy-colleges.html https://www.nytimes.com/1987/02/18/opinion/our-greedy-colleg... 'ACCOUNTING FOR THE RISE IN COLLEGE TUITION' [PDF] http://www.nber.org/papers/w21967.pdf http://www.nber.org/papers/w21967.pdf