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Student Loans are they worth the risk?

With student tuition price doubling the rate of inflation is it a wise investment to go to school with the coming economic storm?

 Generally speaking one may say that it is the responsible thing to do.  But as we are moving towards a drop in our standard of living wouldn't it be more feasible to search for a stable job and prepare rather than rake up a huge debt?  I'm not looking for a "silver bullet" response.  Just wondering if you think in my young college career if it would be financially responsible to do so.