Engineering and sciences studies are on the decline in the US, have been for some time. A BA in 'business' is still the arts, which in our service economy allows a better chance at climbing the ladder in fast food or bedpan emptying.

The real reason banks stopped funding student loans wasn't because of interest rates but due to the inability of packaging them into insured securities in that now devastated market. Banks often participate in swaps, purchases and syndicated lending where their margin is 25-basis points, something that's very feasible when one's reserves are non-existent and return on capital can be calculated to include interest revenue.