The problem is that in order to cut back, they have to move somewhere where they can’t make enough to pay off their student loans.
College costs went up much more than other things over the past 40 or 50 years. It truly is a mess. Of course, we hear about the people who got $300k of student loans, which is absurd, but we were sold a bill of goods in the 1950s and 60s— that everyone should go to college. Everyone should have a white-collar job. Everyone should be above average.
Jobs became our central thing, our source of identity, and now we are paying for it.