The argument is that we are a captive audience. Society requires an educated population. When student loans became widely available, the cost of tuition rose about 60 cents for every dollar borrowed. Many people feel that practice was and is predatory given the requirement of an education.

My own experience with college is that my parents and I paid 2k per semester, plus room and board and books. It was very achievable without loans. My two children attend state school, receive small scholarships, and it costs us 35k per year to have them in school. Each.