Because our government basically vomits money at everyone who applies.

If private lenders gave out the loans, they'd look at whether they were likely to be paid back.

They'd ask questions like: "What will you study? You really think majoring in dance will lead to a job that will pay you enough to allow you to pay us back?"

Government rarely asks these questions.

Bureaucrats throw money at students. Many don't benefit.

Many shouldn't even be going to college.

Today, nearly half of the students given loans don't graduate even after six years.

Many feel like failures.

College is good for people who want to be college professors or who major in fields like engineering and computer science that might lead to good jobs.

But that's not most people. Government loans encourage everyone to go to college, even if they're not very interested in academics.