No wonder They Wanted To Take It Over

Didn't the Federal government, under Obama and the Democrats take over the student loan program because the banks were making too much money on the loans?
From the Detroit Free Press:
The federal government made enough money on student loans over the last year that, if it wanted, it could provide maximum-level Pell Grants of $5,645 to 7.3 million college students.
The $41.3-billion profit for the 2013 fiscal year is down $3.6 billion from the previous year but still enough to pay for one year of tuition at the University of Michigan for 2,955,426 Michigan residents.
It’s a higher profit level than all but two companies in the world: Exxon Mobil cleared $44.9 billion in 2012, and Apple cleared $41.7 billion.
http://www.freep.com/article/20131125/NEWS05/311250021/Federal-government-profits-on-student-loans
It appears that the Feds are really are the loan sharks