Reply #7: At risk of overstating the obvious, student loans are expensive because education is expensive.

[lumberjack_jeff]

If an education is a monetary investment in increased future earnings, then it's incumbent on the student to be able to do the math. "If I were to invest the equivalent of my student loan payments, say $1000/month (of my salary at the hair salon) from age 18 to age 32, I'd have $520,000 in the bank. If I seek a teaching degree, at age 32 I'll finally be debt free and making about $50k/year."

(*an $80,000 education costs $1000 per month for ten years if using PLUS loans. $1000/month invested at 14% return for 14 years - 10 years plus 4 years of college - has a future value of $515,934 before tax.)

If an education is a gift to ones self of personal enrichment, then I might question their financial priorities, (the library is free) but it was their decision.