I agree Obama is partly to blame but it goes back before then. I blame Bush. The special treatment given to student loans in the BAPCPA made it so lenders were not incentivized to limit their risk (they’d be paid back somehow in 99.9% of cases). So, they just kept making funds more readily available, which colleges responded to by continuing to increase cost of attendance.
I don't disagree with you so much as I will say that since the government got their hands in the student loan business, it has been a disaster.
Thanks for responding.