While the rate level is set by a pre-determined formula, the Obama administration was able to retroactively reset interest rates through a bipartisan effort in 2013.
The insane part is that college has a good chance to have no effect on your overall earning potential. Polymatter did an excellent video on it recently.
Yeah, it really only comes down to whether you're at an ivy and networking for future connections. Source: did not attain a college degree, ended up among CS grads.