John J. My daughter just complete a Masters in Electrical Engineering in the UK (Essex). She was fortunate in getting a (relatively) free-ride full scholarship by virtue of her soccer skills.
The average cost of colleges in the US is about $27K per year which of course varies a great deal up or down depending on the program (Medicine is far more expensive for example).
The total average cost of college in the UK is at least £22,000 (~$27,040) per year. Studying in the London is *vastly* more expensive.
My daughter’s masters program was over $30,000 per year for two years. Students in the EU and UK are not all free from debt. The difference is that the US has a *far* higher drop-out rate (75% on avg of all who start college here, drop out).
That in turn drives costs up to house/teach the massive incoming 1st year students that has to be covered by students who stick it out… Those bloated front-end-weighted costs have been manipulated to by colleges/politicians into tax-payer and student-loan money redistribution systems.
Cui bono? On a per-student basis, the high costs / debt are of *greatest* benefit to politicians (student loans, “access to education”, etc. are big “issues” to manipulate for votes), college administrators, government bureaucrats, student-loan institutions, etc. — all the leeches in the bloated system.
Student loan debt in the US has surpassed residential mortgage debt. Think about that.