Students, families struggle to repay billions in crushing loan debts

The key is to use the community college system. Get your associates first at low cost and then finish up your degree. Saves thousands of dollars.

If the cost of the degree cannot be offset with a job/career that will provide income to pay the loans back quickly then you likely made a bad investment. A state school, in less expensive states, can cost $20k+ for tuition, books, housing etc. So you can rack up $80k in student debt in 4 years without a lot of effort. If you end up with a degree that only commands a $40k/year income, you might have made a mistake.

People have to be able to do honest return on investment calculations. Few seem to want to do that. They just want to get into school, spend the money and try to figure it out later. That can be a major mistake.

For current students (military included) remember that if you are using your Post 9/11 benefit, it doesn't run out if you take too many classes at once, but you only have 36 months of use. For parents with children that are hitting that college age, work with them to find scholarships, work study programs, and make sure they have an idea what they want to do. If they start talking about a liberal arts degree and don't intend to persue a higher degree later (i.e. Law/Medical), you might want to educate them. Also, if you know your child isn't right for college (not everyone is), encourage them to go to a trade/skill school. There are plenty out there, and the jobs will always be in demand. If you children are young enough, start a state sponsored college savings (I can't think of the actual form of the top of my head... few too many of the bubblies)