[bante]

"I'd call that a big negative externality to the accessibility of loans for higher education."

That's only one side of it though. The other being the expectations discussed in the article. You see this quite clearly in housing markets where the price is dictated by the profile of who's going to live there and when they are expected to pay off the loan. A house with an expected 100 year loan in a professional market is of course much more expensive than a 30 year loan in a worker market. For what could be more or less the exact same thing.