Private lenders don't loan money when the business plan makes no sense. When the education won't increase a student's earning power enough to pay back the mone

Private lenders don't loan money when the business plan makes no sense. When the education won't increase a student's earning power enough to pay back the money, a private lender is not likely to lend to them. The government makes no such judgment when lending, for education, mortgages or anything else it decides to "encourage". And the result is oversupply and a drop in demand, followed by a long drought in the production of the thing the government encourages. A bust. Government is not smarter than the student. The student will at least learn from his mistake.