I took a job in Singapore, partially because I wanted the extra income for student loan payments, and then sacrificed quite a bit for a couple of years to pay aggressively. These rich kids just get me to pay theirs for them and then have no incentive not to get a basket weaving degree that costs 120K. It's a gift to the Universities, more than anything.  They are being incentivized heavily to maintain business as usual, with all of us paying for their largesse (have you been to a campus recently? They even smell like money. New buildings everywhere, etc, etc.).