US government “profits” from student loans in 2013 surpassed $41 billion

[Guynextdoor2]

But there are interest rates. Never mind. We recognize tap dancing when we see it. When India charges interest rates, it is for the greater social good, but when the US does it, it is evil. We get it.

No- there is a fundamentally different approach to education. COmpare Indian Elite Schools (IIT/ IIM/ AIIMS) Vs US elite schools (Harvard, MIT, Yale). Indian elite schools have an policy that no student will be denied the benifits of education basis FInancial inadequacy. Meaning, once you pass that test and have your name on the rolls, under all circumstances the institutions take over to make sure that financial means are not a hindrance. They'll get fees from students who can pay, arrange loans (places like IIMs give very good placemets so it's viable), and in other cases where the kids come from even lower means - beg, borrow, steal, use your rolodex, whatever but make sure it gets done.

Now walk into Harvard Med without 500,000 USD and tell me the kids there get the same guarantee. Happens all the time that people 'make it' but never really 'make into' these schools.