College is a major investment, in both time and money. Of all the students that begin a four year degree program, only 60% actually graduate. So for the 40% that drop out for one reason or another, it would have been better for them (financially) if they never went to college in the first place. This is in combination with the massive students loans some take to finance their degree. It's one thing to waste money that you have, it's another to waste money from a loan that you have to pay back.
Going to college isn't the path for everyone. In fact, going to college at all should not be a lightly made decision. It is a serious commitment in both time and money. Figuring out whether college fits into your life plans and is necessary to achieve your goals is a must before stepping foot on a campus. Here's my full thoughts on the matter in the event you are curious https://youtu.be/0JWDusLlHS0