I was fortunate enough to not have student loans. I have a 15 year old and I pray he can get a full ride somewhere. When I started college back in 91, my entire freshman year was less than $1800 tuition wise (at a state university). What the F happened.
Student loans happened. Supply and demand. The demand went way up, because it was so easy for students to get loans for up to 50K a year. Then the price of tuition kept going up.
I was fortunate enough to get an NROTC scholarship. However, most cannot get that. The cost of tuition got so high that it is difficult for most parents to help their child.
“What the F happened.”
Everyone should have an apple a day. BUT - apples are 25 cents each, and not everyone can afford that. So the gov’t. steps in and gives loans to folks. Now everyone wants an apple, supply and demand kicks in, and apples get more expensive.
But not to worry - Uncle Sam will offer more and better loans....
Lather, rinse, repeat.