Earlier quoted context omitted.
If we're speaking realistically and not idealistically, then the primary point of a degree is as an investment in a job market. You go deep in debt with the aim of getting many times what you invest in return. But in the case of a bad job market, you're investing serious money (especially in modern times) for what may not ultimately pay off. And even if LLMs don't reach their viable potential, they're still likely go…
Only around 1% or less of graduates from top schools (the Ivy League, MIT, Caltech, Stanford, UC Berkeley, UCLA, etc) end up with 6 figures of debt. In the Ivy League about 80% graduate with no debt. At top non-Ivy League schools average debt ranges from about $13k (MIT) to around $30k (CMU). Even when you expand to include all schools instead of just top schools, 6 figure debt is rare. Average is about $27k for publ…
The reason debt is low at the most elite institutions is in part because the student body comes from disproportionately wealthy families and in part because most/all of these schools offer tuition free learning and other non-loan assistance for students from "low-income" families. At MIT "low-income" is defined as less than $200k. Any student who's viably able to be accepted to such institutions would be well aware of such things, but 99% aren't - so it's largely just as irrelevant as their debt figures.
[1] - https://studentaid.gov/sites/default/files/fsawg/datacenter/...