Free money

Having worked in a career college over a four year period, a few things stuck out.
Education is expensive. Career Colleges have at risk students that drop out of traditional not-for-profit schools. Some students tried to game the system and thought of the school as an ATM.
Adult students making minimum wage or less that have children qualify for a ton of loan money.
Excess loan money was used to pay for new shoes, Christmas presents, and rent. A lot of students considered the loan money their money regardless if it was Federally Subsidized or not. A lot of students didn't care about interest rates for they had no intention of giving/paying back their money.
The school was for profit, and money was being made. The programs were credentialed by nationally recognized organizations, and good, dedicated people made sure their students were receiving quality education. Sure the job market was less than great, but our graduates were qualified for the jobs in the market. They were drastically shocked that starting entry level paying jobs were essentially the same wage range as the current minimum wage jobs they already had, so they were straddled with a loan repayment which lead to their earning less, if they worked. If you don't have a job or are a perpetual student, you don't have to pay back your student loans.
If career colleges can make a profit while spending 25% of their tuition on advertising/recruitment, then public colleges should be a lot cheaper to attend given that they are funded directly with tax dollars.