It is that way now, which kind of guarantees that it would be that way now; there are no government guaranteed private loans issued now, they were replaced with direct government loans; the only student loans today are private loans which are not guaranteed by the government and direct loans. And private loans continue to be issued.

Those private loans are harder to get and come with significantly higher interest rates. If they became the only loans available, vast numbers of students who are already enrolled in college would be forced to drop out.