So it sounds as if, there is no incentive on the part of colleges, to rein in costs. Reason being, they can raise tuition and fees at will, and receive little pushback, because students will simply end up borrowing more to cover the increases.
THAT, is in fact the plan, always was.
This whole scam is nothing more than money laundering.
The fed pays the bill for the student, the faculty sends the money to rats, and the taxpayer is hit for the loan.
The schools have no incentive to reduce costs, in fact, they have incentive to raise costs, as much as traffic(taxpayer) will bear.