The Feds will basically loan you as much as the school costs, so schools just keep raising their prices.
I was astounded back when I had rental properties how much school debt people in their mid-20s with good jobs had. It is pretty common to run a credit check and find $100k+ worth of federal student loans. I don't think I remember ever seeing anyone with $200k but I only ran maybe 20 credit checks total, I'm sure they're out there.
I'm not normally a libertarian but I have to say, I think the ease of getting loans has really contributed to the cost of higher education. It might be time to rethink that system.
-W