Let's face it, colleges have always been about making money. However, back when I went to college (1975), most folks either paid with money from mom & dad or got a bank loan or......if you could show that your family was really poor, you could apply for a student loan.
Today, getting a student loan is so easy you can practically get it as a side when you order a Big Mac. Just look at the proliferation of on-line colleges, ads on TV, colleges expanding their campuses. All these higher institutions see is $$$$$$$, freely flowing $$$$$ with the good old gubmint backing it up. Can you spell Freddie and Fannie?? You can't watch any TV channel and not see national TV ads for University this and University that. They don't give a dam about furtherring the education of this nation - it's all about who can grab the most college loan money.