All our kids take out student loans the rates of interest of which are usually quite favourable to the student.
I see. That means they are only able to take the loans because they are also in a college program, which means they could not learn full time for even one year. I am not criticizing (yet); merely making explicit.
Also, the current interest rates on unsubsidized student loans is about 8%. That means it doubles after 9 years (72/8=9). Just making that explicit as well.