(Archived document, may contain errors) 604 September 24, 1987 PROBLEMS WITH THE NEW STUDENT LOAN PILOT PROGRAM INTRODUCTION The cost of college education in the United States has been skyrocketing. Secretary of Education William Bennett and others blame the student loan system which encourages colleges to increase fees This system, e lains Bennett, has many One is that it spreads subsidies thinly and widely, subsidizing students from relatively affl uent families, thus leaving insufficient support available to poorer students.