I looked at a few college loan websites and it appears that the interest rates from privates banks run about 2.5% to 4%. No payments at all until after graduation.

I don't see how that can be called "obscene profit" or a "cash cow for all those gready 'publicans".

The $23.000 loan mentioned above would result in about $50 dollars per month payments at 2.5% interest.

The current situation in mortgage money shows that 90% of the money comes from institutions that were either created by the federal government or are now owned by it. This move to end the federally subsidized student loan system will probably result in about the same percent of higher education money being directly dispursed by the federal bureaucracy: over 90%.

Those who control the money control everything. A "power grab" it is.