In today's day and age, college is almost required. Too many students and parents go into debt providing an education for the student and many fall into deeper debt trying to pay off student loans while also trying to find a job, which is not guaranteed.
Since 1976, student loans have been taken out of bankruptcy qualifications, but wording was changed in 1984 so private loans from a "nonprofit institution of higher education" were excepted in the discharge. More students take out federal loans than private. Typically, only the lower middle class and lower qualify for federal grants and it can be quite difficult to get a college to allow only your income to be looked at when applying for financial grants. Not all parents can or will pay for college leaving the student with high debt.
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