Access to student loans has been the path, and the only path, to higher education for many students, escpecially those who want to attend prestigious private universities. In 2008, 60% of college students carried some form of student loan and low-interest student loans from the federal government have been a huge source for funding; however, with the upcoming deficit reduction, this could be an area that is cut.
My late father was in the Oil Business; he was known as a "Wildcatter." He drilled oil wells on speculation, in areas not known to be oil fields. Gambling was in his blood; it served him well. At the time I was born, my father was a wealthy man. We lived in an 8,000 square foot home on five acres of land in Dallas, Texas. Life was great.