What no one is saying is why don't people go to a school that they can afford. Just because you got into Yale, doesn't mean you have to go there. Especially if not becoming a real doctor or like profession that will be able to pay your student loans. Doing that is like getting a loan with no credit or income check to buy a Lambo. Then after 4 years, your payments start for the $500,000 car. No way that works out.
I went to UH because mom and dad were paying and didn't want them to spend more on a mainland college.
People ARE saying that -- people like Mike "Dirty Jobs" Rowe. But the people saying it don't make the MSM headlines.
The kids and parents are being lied to. They are told the kids NEED these degrees to get top paying jobs. In fact, most of the grads not only can't find those jobs in those fields, but they start out their adulthood saddled with more debt than almost anyone ever did straight out of college 15+ years ago.
There are some who pay their own way through scholarships, grants, and actually earning minimum wage as they go. Others work a couple of years and then apply to college with money they saved. Still others use military and private employer benefits to afford school.
Unfortunately, the majority have had loans pushed on them. When you apply for financial aid, and you make too much to qualify for actual aid, they tell you that you and your child qualify for a loan. So, both the student AND THE PARENTS are being told "If you want to borrow the money now, and pay it back with no payments until after your student graduates, just sign the forms." Super easy -- barely an inconvenience. As long as the student remains enrolled with at least half-time status, there are no payments. BUT interest continues to accrue the entire time!
This is one reason why people who probably know better are taking the loans. Because they CAN! And, having easy money means they can afford to send Janie and Johnny to a "better" (i.e. more prestigious) school, hopefully parlaying that school name into a larger salary.