In the 16 and 17 hundreds, Europeans would pay for oceanic passage by working 7 years for free in America. Basically, it was a mild form of slavery for eventual opportunity. They were fed, housed and had a job that didn't pay much or anything.
Now, one can become a slave to debt, with no guarantee of a job with obligations to pay for food and housing. Granted 200 years later, conditions are a little better.
College Debt
Maybe there is a lack of free market understanding. Should a college or university education really cost so much? Is an ivy league school worth it? Should the government allow such high debt for those with little working experience, understanding of markets, and possibly no credit?
Should schools be believed when their statistics are always presented in the most favorable ways? Students need a balanced report on a variety of schools explaining details behind statistics. Sometimes unrealistic promises are made because data is missing.
One should be told, that those who borrow so much to attend such-and-such school, one out of 10 times goes bankrupt, when parents are not wealthy. Stats saying the average graduate makes so much upon graduating, may neglect to include details of how prominence, a normal condition of those attending, affects after-college success. Of course one will make so much when they graduate from such a university, if parents pay their way and give them a high paying job in the family company. So, such stats promising future success may be deceptive to those who sacrifice greatly to attend an ivy-league school.
We live in a world where success is expected with a good education and that you will fit into a system that may not jive well with every individual. There is a culture of long hours and office politics. Work becomes like a social life for some high-paying jobs. And the cost of living is often high where such lucrative jobs exist. Thus by getting in debt, one is obligated to work hard under a system and condition that is not suitable for everyone.
Possible Solutions
I almost forgot. I suppose the solution is to not offer such high loans and to not guarantee loan companies government protection. Governments are just asking to be taking advantage of. Plus we shouldn't assume that the standard of living is going to rise, which means there may actually be a shallow demand vs supply of jobs requiring a university education.
But the opposite could happen, where more educated people are needed for an advancing world. But they can't be robots. Too much school by itself may teach one to fit into a system. Change is the only sure thing. The current systems are changing and people are looking to overcome in a world of established ways and structures. Already businesses are changing their approach to allow a variety mindsets to fit in.
Get an education and with it get the ability to make good choices. Don’t overlook the university of life, reality, capitalism and social interaction. Read good books for goodness sakes and not just for school. If you're from anywhere other than "1st-world" countries you probably will have all these skills already and could likely benefit greatly from any possible education.
As a disclaimer, I never had debt from College and I have not studied these issues. But this is a reflection of my observations. At least you were free after 7 years of indentured servitude.