The greatest outrage is the federal monopoly on college loans now.
That passes almost without comment.
These people are totalitarians in intent, but I think as they say down in Louisiana that their alligator mouths are going to overload their mosquito asses.
As I understand it, all that has happened is that loans which were previously issued by banks using 100% federal money with 100% federal loan guarantees (zero risk for the banks), will now be issued directly by the government. It's not clear to me why this change alone is an "outrage".
You might make the argument that perhaps the government will now be using political favoritism in issuing loans, but you could make the same argument about housing loans, SBA loans, etc.
The much more serious issue with education loans is how the availability of the loans is the major factor in driving up the cost of education. The billions of dollars saved by transferring the loan-issuing to the government will probably soon be eaten up by increased tuition.