People get mad at me, but if government is going to assist with college education, they should only assist with professions which have a need and which will support fiscal responsibility.
We have need of engineers, scientists, technicians, medical personnel, etc. Do we really need as many psych, poly sci, anthropology and sociology degrees? Put the government's support behind the country's needs, it's not a difficult concept.
Further, the if a bank does not believe a student can pay back the loan (aptitude, future earnings, opportunity/job market for degree, etc.) It should be a good indicator that the student and/or the degree may not be worth supporting with government funds.