It’s true that college is losing relevancy in many fields and market sectors. And yes it is becoming more and more expensive to attend. Heck as someone who went to school to be a teacher (and never became one because of what I saw “in” the system), the whole education system in this country needs an overhaul. Fast.
However, education, college or otherwise, should always be thought of as an investment. An investment that includes time plus money (and interest in some cases), which needs ultimately to provide a return over time (an increased wage over what would be earned without the education). In the past college was a great investment because it gave a great return (like Microsoft when it was a growth stock).
Having a college degree all but ensured you would make X% more per year (and thus you could afford the loan repayment while still having more cash in your pocket (your return)).