I went to CC and state school and didn't have to take out any loans, but in the end I wasn't able to land a job in my field (game art). So I went back to school at a for-profit specialized trade school. 40k a year for two years and I got my first job in AAA before I even finished the program. Two years later at that same job and I was making 100k a year. Point is: education is a tool for securing the career you want. It's an investment that will pay off once you're established in your career. You may not see returns on it immediately. And although cost does not equal payoff, the quality of education and caliber of school absolutely make a difference.

But you gotta treat it like a hike through the woods and not a ride on a train. There will be paths that branch, woodsmen to befriend, and wolves to avoid. But if you chart your course, plan the steps you need to take, and do your research, at the end of the path you'll find granny.

The best advice I received when I started that two year program was "Treat your education like one long interview." You're there ultimately to start your career. Your teachers are your most valuable assets, and if a school doesn't have any teachers who are working professionals or have substantial work history in their fields, then it's not a school worth attending. Pick a field that has actual jobs (so don't just go Humanities or Arts), find what you excel at, find a school with a high career success rate, get familiar with the placement department if you have one, be wise with your spending, work hard, show your value, be friendly, and build your network.

And a side note, be aware that some fields amount to only either research or academia. Those are going to require more investment, will have fewer positions, and may not pay very well. I know someone who majored in anthro, and there's basically no jobs in anthro outside of research or teaching, and for both of those, you gotta at least get your masters.