$60,000 a year? Gulp! When I went to Arizona State University, I had to work three part-time jobs to pay for my tuition. $150 a semester or $300 a year plus books and summer school classes in the late 60s. I graduated with a four year business degree in three years to save money. I was always broke. But I had zero debt after graduating.
My parents didn't help except room and board if I wanted it but being 18 and a college kid, I moved out and lived with friends. Did the laundry at home once a week on Sunday and ate dinner with my family then.
I didn't see $60,000 a year until retired from the service and was in upper management at a mortgage banker.
It is my belief that someone who doesn't have enough sense to not borrow $240,000 for four years of college for some worthless liberal arts degree, then they shouldn't be attending university to begin with.
Going to college doesn't make you any smarter. Only more educated.
But a college education is SO much cheaper now because government jumped in and made it affordable.