I dont disagree.. but there are creative solutions out there if people are willing to look for them...
For example, the avg cost to pursue an MBA from a typical state school in the US is about $60K right now (tuition, books etc.. that figure does not include housing, meal plans, parking, etc..etc..).. .
you can pursue an MBA from an accredited, brick and mortar, well regarded school in the UK however for about $15K (complete the degree online).. Some are as low as $13K..
The problem with student loan debt is a combination of students for the last several years chasing degrees that bring no tangible value in the job market and the "American" education system selling the insane idea that students need the "complete" education experience which includes a lazy river, world class gym, a food court with 15 different commercial options for lunch, etc..etc..
I think the brits actually have the right idea.. you go to school to learn shit.. if you want to join a gym, awesome, go into town and join a gym.. if you want 35 different meal choices for dinner, great, take your happy butt into town and eat wherever you like.. if you want a lazy river.. well, you're probably shit out of luck.. you might need to go to a US university..
they don't pack their campuses with things unrelated to education and learning.. so they don't have the associated costs..
the brit system isn't perfect.. there are things that suck about it (IMO).. if you think our campuses have gone insanely left and offer (and fund) outrageous study programs that are valueless.. the brits are 100 fold worse..
but if a student wants to pursue engineering, business, biology, etc.. those programs are readily available, from NUMEROUS brick and mortar, well regarded schools (to include Oxford and Cambridge now) as online courses of study, at a fraction of the cost of what it takes to attend the same program from an equivalent quality US school...
Point taken, but its actually worse than you suggest. If you're going for an MBA or executive MBA today, you want the ROI that comes with the 18 to 24 month commitment and the total cost of attendance.
Tier-1 MBAs (top-25) you're looking at $160k in up all-in. Eighteen years ago that same MBA was $78,000. The ROI has not doubled in the intervening years.
I knew someone in the States that was a total screw-off and got a pathetic 450ish on his GMAT. A score so low I think the only institution he qualified to attend was University of Akron (they simply required a score, any score). He applied to London School of Economics that will not accept any US test scores in their application and he got in! He spent $30k all-in as an American. Obviously, he didn't do much with the degree because he wasn't qualified, but he did attend and he did get a steal on his education.