Who's Profiting From $1.2 Trillion of Federal Student Loans? - Bloomberg Business

“The student loan system is unnecessarily complicated, and at each stage of the process, someone is taking a slice either from the borrower or from the taxpayer,” said Robert Shireman, a former Education Department deputy undersecretary. “It’s an illogical system because the pain that we’re inflicting is not worth what the taxpayers are paying, and it’s the wrong approach to take for people who were trying to do the right thing by getting themselves an education.”
http://www.bloomberg.com/news/articles/2015-12-11/a-144-000-student-default-shows-who-profits-at-taxpayer-expense