A student loan is only worthwhile if the person getting it believes they will land a job that will allow them to not only pay off the loan but significantly raise their standard of living.
It's one thing to go into debt to become a heart surgeon or dentist and another thing to take on debt to major in English or Sociology.
Too many people are graduating with degrees that don't lead to financially rewarding careers. Instead they're waiting on tables or taking jobs which didn't require a degree to get in the first place!
The days of simply getting a college degree in any major and it would lead to living an affluent lifestyle are long gone.
Today's students have to have a strategy for leveraging their education in the workplace. Competition is also fierce for good jobs.
The people making the loan are not the scammers. It's the people taking out the loans who con themselves into believing it'll be worth it take out the loan just to get (any) degree regardless of income potential. It will take a teacher a long time to payback $100k.