That's a dangerous statement in isolation.
For a country with a median income of $35k, imposing debts worth $200k for degrees with questionable employability and no clear resolution (Can't pay off, can't default) is insanely dangerous.
Education is also not a monolith. Some careers need education, in that gaining skills in the profession requires a degree of instruction or apprenticeship (Medicine, Pure Sciences, Engineering etc). But a large number of them end up being paper pushers or knowledge from a single course or learn everything on their first job. For this second cohort, education can be burden with terrible payoff.
A lot of educational fields are also entirely unemployable. This includes 3 type of professions:
1. Pyramid schemes - where the only real job is in instruction of the next generation.
2. Priest - where they create a dogma that mandates them as essential in the system, but have no use in isolation.
3. Professional disk golfer - where there is only 1 employable position, and about a million wannabes.
As of now, progressive society is pushing people to consider all kinds of professions as equal. However, the equivalency is flawed. The risk/reward ratio of getting educated varies massively across professions. It can vary from a ticket to the upper-middle-class to being entirely useless equivalent to homeopath or hucksterism in terms of unsubstantiated merit.
The university system was never created for everyone to get educated. The concept has existed only post GI-bill and seemed to work in a Boomer-era post scarcity America. (Nothing that worked well in America from 1950-1980 should be taken as an example that can be replicated. It was a special time in history. It would be like trying to be Saudi prince without an oil well in your backyard)
I am strongly in favor of higher education for all. However, it needs to either be fully distanced from the present university mafia or the universities must be compelled to produce economically productive graduates across their various offerings. Universities sell a financial product. It is about time we see their variables-controlled return on investment with th fine grained granularity that we evaluate any other financial product. Lest we get stuck with sub-prime graduates bundled into funds that are considered AAA because there are a large enough number of them in it.