1. Infinite supply of loans. Dept of Ed isn&#x27;t even <i>allowed</i> to deny a loan to a person.<p>2. Culture since the Clinton era of &quot;everyone should go to college&quot;. Massive cultural stigma for those who don&#x27;t.<p>3. Colleges continue to justify costs based on lifetime earnings delta of people with degrees. Sadly, this data is backwards-looking and not indicative of what today&#x27;s students should expect.<p>The most heinous thing though is that student loans are exempted from American bankruptcy laws. The gov&#x27;t will give you a loan, without doing any diligence on your ability to repay, but make it impossible to discharge your debt if you go bankrupt.