It's quite possible that the study of purely academic subjects--subjects which have little chance of improving one's employment prospects--will enrich someone's life tremendously, and that the university is the best place to study some of these subjects. I'm not interested in boring arguments about what those subjects might be, or whether any such subjects may exist, but let's entertain at least the possibility that some do. Isn't lifelong enrichment worth a decade or so of loan payments?
Engineers see the cost of college as a variable in a purely financial cost-benefit analysis, and don't understand why philosophers would even bother because it fails that analysis. But philosophers get something fundamentally different out of college. Is it worth the money? That's a personal question.