People with a college degree used to get paid very well. The employers did not like that so they told the kids "You've GOT to have a college degree if you want to get paid anything or get a real good job." Well, the kids bought that and they ALL went and got college degrees.
So now the jobs market is over saturated with qualified, degreed people. There are 50 of them for each job, so now the criteria is "Who will take the job for the least money?"
I have a college degree and I have paid off my student loans. THen again I also choice a viable career path. Not something silly like Liberal arts or the like. Students now adays have no one to blame but themselves for the debt that they are in.