Updated: Oct 15, 2020
Throughout the presidential campaign, we've heard about the "student loan epidemic", right? That college and university degrees are "just too expensive" and college should become a "free fundamental right" (at least that's the campaign rhetoric I seem to remember).
One thing we can certainly agree on, is that the cost of college tuition has escalated sharply. College costs typically rise at TWICE the rate of inflation. That part is not within our control.
With that said... does that mean that college is a waste of money? NOT AT ALL! It could just be that your chosen degree program... is one that won't have much economic opportunity, outside of being a professor teaching that program to others. This part is completely within our control. If the resources are going to be spent, we need to do a decent job of choosing a program... that will lead to a decent job or other economic opportunities.
This article in "The Economist" talks about the problems and the solutions: