<p>@vossron: I actually think one is better off with just a HS diploma than with a university degree but massive loans. The HS diploma holder with no student loans will at least get by if they find any job. The university degree holder with massive student loans may have severe financial problems. Also, there’s at least a chance that a talented person will succeed despite only having an HS diploma. For example, they could start their own business. (See my recent post about self-employment on another thread.)</p>
<p>In any case, massive student loans should never be necessary. As noted in (3) above, there are choices which don’t hinge on residency in any particular state where tuition and fees are in the neighborhood of $15K per year. Again, if attending community college, this is multiplied by two or at worst three, rather than being multiplied by four or five as if one started as a freshman. Even with no financial aid, no parental assistance and not attending one’s in-state public universities, it shouldn’t be necessary to borrow $50K or more to get an education.</p>