There are a lot of variables there. Adding interest-bearing debt to someone with no income is a great way to put them behind, they’ll still have rent and other necessities to buy in addition to the student loan payments. That debt can quickly snowball if other problems come up, especially if you’re unlucky (hospital bill in the US?). Generally when you start your career after graduating, you aren’t making the average salary for your position. You have no experience so you have to take what you can get. You also aren’t owed a job, college degree in hand or not. I say this with personal experience - a bachelors degree in Electrical Engineering from an accredited university, and research experience and internship experience from while I was in university.
Republicans are the ones who cut state funding for public universities leading to universities charging more money, the federal government offered loans to help offset that, and universities saw that and charged more money because the government continues to provide increasing amounts of loans. So yeah the universities are making out like bandits but Republicans definitely are not without blame. Cost of university would get reigned in if student loans were not a thing and the government was funding universities appropriately.