Getting Suckered

"Graduate schools have essentially found a way to capture more of someone’s future income and future spending than what would probably occur if we had some sort of underwriting standards and loan limits."

Something is wrong when loans cease to be a "bridge" for education costs and become the primary way people are expected to pay for education -- whether it be undergrad or grad school.  Remember: the borrower is slave to the lender.  There are not exceptions.