Financial aid is awarded by the American government. The American government is funded by the American taxpayers. Neither the American taxpayers nor the American government can afford to send to college anyone who doesn't contribute themselves to this country and anyone who will likely return to their home country and not contribute to the American taxpayer pot after graduation.
There are many countries that have entirely free college for the citizens of that country. But Americans cannot attend those colleges for free--we have to pay tuition, traveling fees, find housing, et cetera just the same. There are two sides to this coin, it's not like you're getting all the bad deals and Americans are just happily skipping around getting whatever they want.
And you really can't complain about being overwhelmed in debt when there are millions of Americans drowning in debt just from college right now. Only those with financial need get grants, after all.
