In all lending situations both the borrower and lender have responsibilities and one side should not shoulder an undue amount of the ire. This view has nothing to do with my beliefs about higher education.

They're only irrelevant if it's true that the loan guarantees are only in place because of lobbying from lenders. It's not--but you've stated you think it is, so the distinction is valid if I accept that as true.

If it's actually the case that these loan guarantees were put in place by well-intentioned people with the same goals and ideas that you have, then the blame may be better placed elsewhere. And that might prompt some retrospection as we consider larger and wider-ranging initiatives proposed based on the same world views.