by the U.S. government and/or students could bankrupt them after graduating. That's the point: a large moral hazard is created by the government's role in guaranteeing debt. It incentivizes schools to increase tuition to the absolute limit of what the market will bear. The schools don't care whether their students can ultimately pay it back; they get paid either way.

The tendency of technology is to make things cheaper. That should definitely be the case in sectors like education and, say, healthcare, because technology can allow those types of services to be delivered to more people with far fewer inputs. Anytime you see basic services like that explode in cost relative to inflation, it's likely because the government is heavily involved, distorting the basic market mechanisms that would normally make it more affordable to everybody.