"Big government" is responsible for the out of control costs. With government-guaranteed student loans, there is no requirement for the university or the bank to retain an reasonable cost profile.
The only loser if the student fails to repay their loan is the student him/herself, when it affects their credit negatively and they're unable to discharge it in bankruptcy.
Other than that, universities will get paid no matter what they charge, and banks will get the loan repaid whether you do it personally or not, so there's no reason for anyone to constrain costs to reality.
Outlaw student debt entirely and watch the system turn on its head. There's no reason it should be so expensive to learn how to be useful, especially with 12 years of state-funded primary schooling before university.
The only loser if the student fails to repay their loan is the student him/herself, when it affects their credit negatively and they're unable to discharge it in bankruptcy.
Other than that, universities will get paid no matter what they charge, and banks will get the loan repaid whether you do it personally or not, so there's no reason for anyone to constrain costs to reality.
Outlaw student debt entirely and watch the system turn on its head. There's no reason it should be so expensive to learn how to be useful, especially with 12 years of state-funded primary schooling before university.