"More than 25 years ago, Education Secretary William Bennett argued that federal aid programs benefited colleges more than students." If you haven't heard Bill Bennett, he is an excellent speaker and radio host. He really does care about this country and its ability to compete internationally. He is one of the most common sense conservatives around and does not resort to name calling like so many do in politics today.
I generally think that Bennett is a sanctimonious busybody at best, but he's right on this particular point of economics.