The US system is odd…
They has associates degrees too. These seem to be one step down from a Bachelors and most of the technicians/CAD designers I work with need one of these which they get from community college.
The guy who sits next to me earns around about $2500 a month before medical, pension etc. The loan people take $450 a month on a $20k debt of which around $80 goes off the principle and the rest is interest and processing fees (which are large).
If he wants to get a promotion he can only do this through more school which will cost him an extra $4-500 per month which he can’t afford. Especially since he has to pay that amount out each month in mandatory state wind insurance for where he lives…
I see couples where they both earn $100k and have a kid struggling to meet the demands of healthcare and student debt. They may not pay it back over their whole life and then their assets will be stripped on death by hospitals and creditors.
A quick look at the local college here shows costs are around $5.5k per semester for a state resident and $17.5 if you are from out of state. As most people take 4-5 years you can multiply these costs by 12-15 then add in living expenses. Imagine if you complete in 4 years in state and live with your folks. You still have $66k in debt so maybe need to pay $1000 per month to cover interest and fees.
Nothing about measuring people worth by pieces of paper that can only be obtained through huge debt is right. Sadly this seems to be the way it is now..