1) Is that the most money they could have made with these loans? Are they getting a market return on investment? If not, then they're wasting the country's money. It doesn't matter if it's still "profitable." A lot of shit investments still make money - just less than they could have if they were better invested.
2) Are the loans profitable at market rates? Then why have students taken on seemingly such high debtloads? Ah, because everyone knows that with governments, unlike private lendors, you get this:
>"I think they should break even, but it's just wrong that they are making money on it."
>"This is obscene. The government should not be making $66 billion in profits off the backs of our students,"
>Warren and eight other U.S. senators committed to wring government profits out of student loans and address the $1.2 trillion in outstanding student loan debt they say is crushing families and putting a strain on the economy.
>"It's time to end the practice of profiting from young people who are trying to get an education and refinance existing loans."
Great, look forward to any at-market performance of your loans being shredded through political pressure. Another way of saying that your government just threw away your money.