$1 trillion / 14.4 million college student annually in the United States = An average loan of $69,444.44
Average earnings for graduates: (Source: wikipedia:)
$25,900 for high school graduates
$45,400 for college graduates
So a college education still pays for its self after 4 years. Investment in education has more long term benefit to the society than some short sighted investment in cars, appliances, homes...etc. Investment in education SHOULD be more important than buying a car or a deposit on a home.
All things considered $1 tril nation wide is not outrageous really. But it looks like a lot to most individuals. As the old saying goes, there are lies, damned lies and statistics. Article is just sensationalism.