Had a conversation with my SIL last weekend. She and BIL have three kids. First one went to college to major in a flavor of music performance. Graduated, then decided to get a masters degree in said niche music field, since bachelors wasn't enough to get a good job. Graduated, now working part time food service jobs because both the degrees are essentially worthless on the job market. He recently apologized to SIL & BIL for essentially wasting their money, so at least he feels bad about it. Now investigating getting a second masters in a marketable field.
Second kid went to a private D3 school to play sports. Majored in something (not even sure what it was) to stay eligible. Graduated, working retail, dream career is in a major that that college didn't even offer. Living with kid 1 to help with rent until the lease is up, then kid 1 and 2 are both moving back to SIL & BILs house.
Third kid just wrapped up freshman year majoring in drama. Unpaid performance internship for the summer. Has a scholarship to cover tuition, on the hook for room and board.
Bottom line: $20K in loans for kid 1, $45K in loans for kid 2, parents have $120K in parental student loans from kids 1 and 2, and are adding to that to support kid 3. Not a marketable skill between the three of them, although I am holding out hope that the third at least minors in something useful. SIL says BIL will have 30 years in and could retire with a pension in 3 years, but both will be working indefinitely just to pay off the college loans. Crazy.