Not all college degrees are created equal. Not all college experiences are created equally. Not all college prices are created equally.
Going to a specific college for a specific degree can be a really bad choice, while going to another for a different degree can quickly pay off. What high school graduates need is the ability to make these sorts of judgments.
For starters, they should consider getting two degrees in a 4 year period. Many students take more than 4 years to get a single degree which significantly increases loans while having less job prospects. By aiming at two degrees, a person can choose to learn something that fulfills them while also finding something they are decent at that they can tolerate for making a living if their dream job doesn't materialize.
Second, consider that some degrees are far less valuable unless you go past the undergraduate level, and so they need to take into account the cost of earning a graduate degree to see if it will pay off or not.
Third, consider scholarship offers and out of state/in state tuition costs. The cheapest college is rarely the best, but a university that will require 10k loans a year is likely to be a far better deal than one that requires 50k loans a year.
Fourth, learn to network and build references while in college.
All of these are things high schools could be better teaching their students about that would make what ever college they eventually pick a much better deal.