There's a pretty big difference between "average student loan debt" and "the cost of an education". The former doesn't include costs that were paid without going into debt, nor does it include debt that has been partially paid off after graduation.

Don't forget to factor in the opportunity cost of not working a full-time job for four years.

Lots of non education expenses get rolled into student loan debt. I've known people to take out max student loan debt and buy CDs or invest it in rental property.

Some people take out excess student loan debt because they don't want to cramp their lifestyle of a nice car and eating out everyday.

Is that the average current student debt balance? Or the average cost of tuition?

You definitely make a good point and one I hadn’t thought of. When you put it like that I don’t know why more people wouldn’t go to a reputable state school and get a CS degree and really study it out.

Time and focus. The curriculum in many degree programs isn’t just about job readiness. Students will do research, experiments, labs, write papers, attend conferences, do hackathons, try side projects, and more that often don’t fit into the timespan of a bootcamp.

A wise professor once said that students pay for two things: speed and peers. Speed affects the rate that assignments, lectures, and tests need to be completed. Peers affects the quality of learning you gain from discussing with people tackling the same problem, and often the depth of the class’s prior perspectives.

You are confusing the average student loan debt with the average total cost of the degree; the latter is greater than the former.