It's just one thing after another that the government is taking control over. Healthcare, mortgages (fannie/freddie), savings accounts (FDIC), college loans...

The more things the government regulates and controls, the worse this country gets.

What do you think will happen when students get their hands on these loans? All the sudden everyone can go to college on loans!! YAY! Colleges can now raise their prices even further since students have access to all this cash. Tuition is now higher, which gives the school more money to hire additional staff/maintenance people. SOMEBODY has to pay for it. Taxes get raised. People get pissed off because they're paying too much to the government. Eventually there is a breaking point....

When the government gains control of a sector, do they ever give up control and give it back to private companies? Nope! Things only go one way until eventually you're a socialist country with insane taxes, lots of people not working (why would you work when everything goes to taxes anyways?), and government controlled everything.