The reason why student debt is basically unheard of in Denmark since college is free (although to make that happen, the Danish government poses high taxation towards citizens like they do in order to maintain stable social security nets like subsidised healthcare and public housing, also why they have less homelessness).
Mainly Danish, Swiss and European citizens are eligible to study without stressing over student debt upon graduation. It stems from this: Danish government is more on for the people while American government is more on caring about themselves plus nepotism on the side (MORE & HIGHER TAXES TOO ON TOP OF THAT).
Not to mention that most colleges have basically become real estate businesses with a school attached to them. In most college towns the college itself is the largest land owner. They are able to use small government to force sales and pick up real estate at small cost and later sell them for huge revenue. The rich schools aren’t using their billion dollar endowments to benefit the school employees or students any more, they’re using it to buy property.