The median annual wage in 1987 (when I graduated college) was ~$18,500. My University of California education (all 4 years) cost $20,000.

Today, 4 years at a UC school runs ~$120k and the median wage is ~$40k.

Please stop pretending today's student debt is comparable to 30ya.

Since this kinda took off, I want to add that many people paying off student loan debt now at the minimum are probably not going to live long enough to pay off the principal.

What that means, in practical terms, is that lenders are hoovering in a ton of profit while taxpayers will still end up picking up the bill for the outstanding principal when the borrowers shuffle off their mortal coils. Because, y'all, that's what "government guarantee" means.