wow you must be new.
that's been news for over a year here.
dig into their pension funds and how they invested into student loans. there may have been self-dealing transactions of state and federal people, in colusion with college administrators. They may have been profiteering off of student loan largess.
note: most SES were grandfathered in and were not part of any Communist/Socialist/Cabal plot.
remember: Most Are Good.