[ontheinternets]

it's not just the principal, it is the interest: loans get up to 6.8 and 8.0 percent. still subsidized rates, but much higher than less valuable investments like houses.

Rates are also fixed with no possibility to refinance. you have to make other decisions, like buying a house and borrowing extra to pay off your student loan. this could have other repercussions and is not very "free market."

but in the end, the degree itself is supposed to be worth about a million in lifetime earnings. for professional degrees it is multiple millions. maybe it is all worth it anyway and the price of education is still too low.