The only government guaranteed educational loans should be for STEM degrees, and those should be based solely on need and performance. I know this will never happen because it utilizes common sense.
I remember watching a tv program some years ago about the unmanageable student debt faced by some. The biggest problem was loaning big bucks for fields of study that would never allow the borrower to pay off the loans. The perfect example was the dude who had a pretty big loan for his Masters Degree in Puppetry Arts. That’s right, Puppetry Arts.
Wait a minute on the puppetry arts. Some one has to know how to position and move the bidet.
Unfortunately, that’s how we got into this mess to start with. The Federal gov’t should not be funding any loans. If states want to do that, fine. They can gear it toward the kind of education the state needs, like agriculture.