What do you mean, running up $200k in debt on a questionable (at best) degree from an expensive private college isn’t automatically a Good Thing?

I’m pretty sure someone‘s written a book about this:

Student Loans and Moral Hazard

In this Daily Caller piece, Eric Owens writes about one such student, Samuel Garner, who has penned a lengthy piece on Slate wherein he whines that he now has to pay about 40 percent of his income to cover his college loans. Nobody, you see, told Garner that he shouldn’t assume that college debt is “good debt” and think about his financial prospects. Garner complains, “I thought signing loan documents was just a routine” and blames Connecticut College officials for not making a serious effort to explain the consequences of taking on more and more debt to him.