The crisis right now is the trillion or so in outstanding student loans that students have no way of paying off.
It's not all about going to top universities, majoring in art history and wondering why you can't pay off a hundred thousand flipping burgers.
I went back to school to retrain in allied health. All data said it would be worth the investment. Federal statistics showed 4 years ago (and continue to show today) 14% annual growth in the field.
The University documentation touts 100% employment of graduates from the program. (but they never mention employment at what)
The local hospital told first me, and 2 years later a classmate, the starting salary was $19 and then $20/hour.
Reality: hospitals are cutting back. at graduation, half our class had yet to get interviews, let alone offers, at graduation. All offers but 3 were part time (per diem, 2 days/ week). 1 of the full time offers never materialized. The other was at a much lower level job and temporary (summer).
Oh, and that $20/hour starting salary? Flat out lie; the hr rep inflated the starting salary by 25%...the difference even working 4 days/week would have been enough to pay the student loans *and* save a little money. Take away that difference, and it's barely enough to squeak by on as long as the old car doesn't give out and no other emergencies every happen.
The only reason I'm not in default is the income based repayment program. And now my per diem work has been cut back, as has my classmate who was lied to. The only way I can pay off my loan is to find other work than I just trained for, or lose my home and be homeless and jobless. The only way he can pay off his loan is to go back to commercial fishing until his body gives out.
Other stories from my class are similar. There are far more graduates every year then there are job openings.
Oh, and for the record, he was president of the honors society and we both graduated summa cum laude. B.F.D. I'd gladly give that lying university their effing degree back and be free of the loan. 4 years of my life trashed, but at least I could walk away from this hell. 
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