Yeah it is absolutely despicable to tell students that they shouldn't make a profit off their education, while the colleges are allowed to inflate tuition fees and profit as much off the student's education as possible.

If you look at the music teacher example you see the end result of these perverse incentives turning into a pyramid scheme. Being a music teacher at the college is one of the few profitable ways to pay off your student debt while staying in your preferred career so of course she doesn't want to give that up, she's still in debt.

If college isn't about money, that turns college into a consumer good, but if college is a consumer good, why should the government let people borrow money for their consumption?

By that logic the government should lend money to young people so they can go on expensive vacations and enjoy their youth.