The point of the numbers is that getting a student loan is easy. Too easy.
You know who knows that the money is easy better than anyone? The schools that are taking that student loan money in tuition. Which is exactly why they have no problems raising costs for tuition each and every year.
Why wouldn’t they act in the same manner as real estate agents acted during the housing bubble? Raise prices and easy money will be there to pay your price. Good business, right? Until it’s not.
There’s more student loan debt in this country than credit card debt or auto loan debt. Obscene. Throwing money at a problem does not a solution make.