You also have to understand the price of going to school has skyrocketed (I was going to say fucking crazy) since we've been there - and today it's pretty much the price of entry to any decent job whether you learned anything or not. Unless daddy pays for one's education, kids simply cannot go to school without borrowing money - in fact, most cannot even borrow money for school without a co-signer or guarantor. No, you cannot 'work your way through' college anymore working weekend retail. There is no financial aid, so don't bother filling out the FAF unless you are at the poverty level. Of course there are a certain percentage of lunkheads that fit well with your point above with $500,000 in loans for a psychology or communications degree, but 95% are trying to do the right thing. With all the social and corporate welfare out there, helping kids with college is just a drop in the bucket and is a very good investment. Not everyone is trying to scam the government. The government is not paying people to do nothing, most goes where it needs to go. Is there widespread fraud? Of course. Are a certain portion of your investments not giving you the best return? Same concept.
Another crude racist cartoon….the first step in recovery is admitting there is a problem. Long ways off if this is an example. A big dose of humanity, humility and honesty is in order.