[_heimdall]

Loan rates just depend on the terms you accept (fixed vs variable) and the base rate when you take out the loan.

20 years ago the base rate for any debt was cheaper than it is right now.

What anyone has to decide is whether they are willing to take on debt at today's rates. You weigh the pros and cons and decide for yourself.

Personally I wouldn't have gone to college if I had to take on debt to do it. That was my choice though, and it was only right for me in my situation.