I agree with you, but I’m just saying that acknowledging this doesn’t mean taking educational loans out is a mistake for everyone.
I’m on board with that. An extremely capable, dedicated and/or gifted student taking on loans with a specific goal in mind makes total sense. But for a directionless kid who has no clue of what s/he wants to do makes no sense. The latter is better off working for a couple of years and trying to find focus and direction.
3 young people I know went thru the 4 year degree programs at good schools, because that was what was expected of them. They came out not knowing what they wanted to do, After 3-4 years they each had a calling to go in an entirely different direction from what their degrees had prepared them to do. They returned at 25-26 for further schooling in the areas they were attracted to. Whatever loans they may have taken for the 2nd phase of their educations was worth every last dime.