It's less the easy access to debt that's the problem, but the requirement of going into debt for a chance to not be in debt. For a very significant portion of people, they only chance at a decent job is college - there really aren't that many decent jobs available for the "no degree" people. Of course the degree isn't a guarantee of a job, just a prerequisite. And of course most people can't just up and pay for college, so the debt load is a becomes part of that prerequisite.

So the requirement of debt for a chance, is probably a harbinger of a really, really shitty time.

(NOTE: please... no "but I am different in w.r.t. that stuff" posts... the terms "many", "significant portion", and "most" mean some aren't in that category, but that doesn't change the statistics).

Yes, college is a poor, expensive employability filter.

Still, it hardly takes a $50,000 psychology degree (people just looking for a credential should be fine with a state school) to get a job in a high tech factory, a $10,000 or $15,000 technology certificate is a lot more sensible.

And I don't mean to argue that these choices are easy or that it is great that people face them, but going $150,000 into debt is not the only path out there.