The other side of that coin is the banking industry has spent millions, if not billions, on dozens of PHD's (laywers) to write these 10 page convoluted documents specifically to "trap" folks into bad decisions. Why should it take more than a single piece of paper to document an agreement?
Not justifying, just pointing out...
Even a simple intercompany loan has a number of different rules and requirements it must meet.
That being said, if someone doesn't understand the student loan agreement they just signed, that's because they didn't read it. They aren't that difficult to read; they just require more than 10 minutes' worth of attention to detail.