To be fair, I think those loans numbers are current balances, not original balances. So much of it represents originally larger balances that have now been paid

To be fair, I think those loans numbers are current balances, not original balances. So much of it represents originally larger balances that have now been paid down to less than $25k (while others represent balance increases due to capitalized-interest). Otherwise I agree with you. Grad-degree credentialism is a problem, especially in the STEM fields. Plenty of people, including some with student debt, can't afford a new Corolla (even ignoring the debt). They buy used.