[yummyfajitas]

Not really, it simply shows that in the EU, your bad education choices harm everyone. In the US, the only person they harm is you.

[shadowfox]

This probably needs explanation

[apl]

I assume the rationale is that it's the student's fault if he chooses a major (e.g., sociology) that doesn't cover interest afterwards.

Well, if you say so? Of course, it grossly oversimplifies reality. Job markets are complex; lack of success cannot always be traced back to bad choices. Also, you could level a very similar objection against health insurance. Personally, I'm not comfortable with that kind of senseless cut-throat capitalism.

[yummyfajitas]

In the EU, I assume the OP was alluding to the fact that everyone else is forced to pay (most of) your college costs. Therefore, you owe very little debt upon graduation. Private gains, socialized losses.