I don't think it is fair to compare with Europe. The Norwegian University of Science and Technology, as an example, got around 1b USD over the national budget. Stipends and loans to students are provided by another governmental body (Lånekassen), but in the US some students get a "full ride" (incl. accommodation and so on). However, the amount of debt you hear some americans ending up with is crazy.
Just to add to that - Students at the Norwegian University of Science and Technology do not pay tuition fees. So the stipend and loan provided by Lånekassen go mainly to living expenses.
