The problem with the student loan debate is it is entirely couched in the individualist cost-benefit paradigm. Nowhere in the mainstream is it acknowledged that a society is healthier (and wealthier) with smarter and more well-rounded people. It's entirely about whether 'x' degree will make an individual richer, or not, and whether the debt is worth 'the risk'. Because we know that all good capitalists take on risk before making their fortunes.
This Bloomberg article is a good exhibit.