When Obama engineered the Government takeover of student loans, he guaranteed the ability of Colleges to charge whatever the hell they wanted to charge for tuition and other college costs. Perhaps the solution is to sell the loans back to the banks (slowly) and Universities and let them service the loans on their terms.
Government control is the objective, but privatizing the industry would be a good solution. Which should include eligibility for discharge in bankruptcy which is the logical solution for individuals in over their head.