Misallocation of scholarships and grants are not the issue here.
The issues are: (1) the predatory loan system; (2) the lack of loan forgiveness; (3) incredibly low wages and; (4) the exploitation of faculty and subsequent tuition hikes for private schooling.
All for-profit schools need to be shut down. They siphon off billions, target low-income students, students of color (particularly Black students) and veterans, - saddling them with debt without providing real education. The loan system should not have an interest rate above 2% - period. Wages should have been raised decades ago, but they've floundered in most areas even as productivity has continued to skyrocket - making it harder for living expenses to be covered, let alone debt payments. And yes, tuition is too high, particularly at schools that add useless amenities to their campus. No college needs to a wave pool, or amusement park activities - they need to ensure they cover every student's housing and can pay the adjunct and part-time faculty a fair and livable wage.