I think most of the blame is on Obozo and the frauds who equated a college degree at any cost with a human right. Too many Americans have shown themselves to be financially illiterate. Expecting a 17/18 year old to understand the ramifications of taking on so much debt is not realistic. Their parents should have guided them better but they may not be any better at managing money either.
The activists who fought to nationalize student loans knew exactly what they were doing. They are criminals.
How high was the college loan debt before Obama took office?
Most of the blame is on the parents. Parents need to stand up and say no. That it’s stupid to spend 200K on a degree that may pay little to nothing.
Parents are afraid to say no. My kids wanted to move away and go to a big university (still a state school). I said NO. First 2 years at the local community college while living at home. Saved me 30K per kid. I have 3 kids.
SAY NO mom and dad. Your job it to bring truth, reality, cost benefit into the decision.