I don't buy the idea that college loans are going to disable the next generation. What's going to disable them is thinking they have to get a college degree to make a living. If you have to rely totally on loans to get a liberal arts degree, maybe you should think about other ways to finance college. Or maybe you should think of a job that doesn't require a creampuff "communications" degree to get hired.
Math, Science and Engineering are the way to go if you have to finance a degree, and I've taught my kids that for YEARS.
And there are a ton of ways to get someone else to pay for your degree. My kids both get 4.0 GPA's and higher, depending on their level of AP and Honors classes. But I'm divorced and can't afford to pay their whole way through college without seriously impacting my standard of living. My way of life has already been seriously changed as a result of their mother running around on me. Prior to that, I paid for private grade school and high school and although I give them all the credit in the word for their grades, I like to think I played a small part in it.
My ex is collecting almost half of my pension and I was forced to retire because of this. As far as I'm concerned, the 30k per year she's taking is "college tuition" and I'm not shy about letting my 18 year-old know this
Other than that I promised my kids they would get at least enough tuition from me for 2 years of local community college. There are plenty of jobs you can get with a 2-year degree. I was a cop for 30 years with NO degree. And the city i worked for would pay for half of my tuition up to a masters degree, REGARDLESS of my major. There's no reason a kid can't get a job as a cop and then work his way through school.
And then there's the military. They have excellent programs to finance college.
And then there are the smart kids who insist on going to a school that befits their smartness. My kid wants to go to the University of Michigan, and she'll probably be accepted. But she could also apply to several smaller, less prestigious schools and get a full ride. Her choice.
You can also get on public assistance when in college. Nothing wrong with "food stamps" for college kids, as far as I'm concerned. I'd rather pay for that than for three generations of welfare families who never went to college.
There are hundreds of ways to pay for college for those who really want to go. My beef is with the people who insist on going to college because "it's the thing to do" or because "mom and dad did so I have to", who have zero plans or zero goals. If you "don't know what you want to be when you grow up" maybe you shouldn't go to college right away.
Also, there's nothing wrong with working in the trades. I know a helicopter pilot and mechanic who worked his way through technical school without ever having gone to "college". I also know trade school graduates who make big money as everything from clay modelers to plumbers.
I think too many kids have too narrow a vision as to how to make a living in this world and how to get by in life because their parents have taught them the formula is: "Don't get arrested in high school, get mediocre grades taking un-challenging classes and then get a liberal arts degree at the local state college, that we'll pay for, and you'll be fine." Instead of teaching them about hard work, knowing what you need to do to get what you want, and most of all, how to live within your means and plan for DELAYED GRATIFICATION!!!! You don't need to have a new car and a 4 bedroom house when you're 30 years old if you didn't plan for how to pay for it starting when you were 18 years old!
And least of all, your parents, let alone "the world" don't "owe" you anything when you're an adult. Anything you get from your parents or any luck that comes your way when you're out in the world is a BONUS. I think what is going to "kill" the next generation is a narcissistic entitlement mentality and an attitude that the someone deserve instant gratification because they have some sort of lame-*** liberal arts degree that didn't teach them ANYTHING useful and merely contributed to the continuance of academia.