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The cost of college education today is so high that many young people are giving up their dream of going to college, while many others are graduating deeply in debt.

More than ever, a college diploma unlocks economic opportunity, provides students with a wealth of new skills and knowledge, and encourages innovation and growth. But more than ever, it also comes with a mountain of student loan debt.

Many students graduate from college and professional schools, including those of social work, nursing, medicine, teaching and law, with crushing debt burdens.

By making college unaffordable and student loans unbearable, we risk deterring our best and brightest from pursuing higher education and securing a good-paying job.

College dropouts with significant debt struggle with repayment over the course of their lives and do not receive the benefits afforded to their peers who have debt but obtain higher-paying jobs as a result of college completion.

While there are many obstacles that deter students from going to college, finances by no means should be the deciding factor.

College is part of the American dream. It shouldn't be part of a financial nightmare for families.

Instead, most colleges are studies in obsolescence.

When it comes to college education, American families are paying more and getting less.

Student loan debt is the reason I don't advise students who want to become entrepreneurs to apply to elite, expensive colleges. They can be as successful if they go to a relatively inexpensive public college.