Easier credit for student borrowers means tuitions go up. This is turn means higher debt loads for students. Then the cycle repeats.
In an effort to grant greater access to college, and frankly to subsidize the people who work in the university system, the government planners have pushed an entire generation into debt servitude.
This is the sort of thing which happens when we as a society take leave of the market mechanism. Often well meaning people just don’t understand what they are doing. They want to make society better by getting the government to “do something.” Yet with time these plans, these expensive plans, fall apart. Then the planners ask for more money and concoct new plans. It’s stupid but that’s been America since the New Deal.