She's also not going to get into the same college as the first guy.

It's a lot more efficient to underwrite based on the university and not the person, especially when you're taking about 40,000 students who need a loan in the next two months.

Thus, lenders will know it's less risky to lend to kids going to Harvard than kids going to Humboldt state.

The problem here is that the government now occupies that entire market. It shouldn't. Simple as.