A lot of students actually take on more debt that they're likely to need for the cost of college*. And while the reasons vary, its the stuff outside of the actual college cost (mortgage, childcare, transportation, etc) that can really saddle you with more debt than your career will pay for. A lot of colleges are trying to teach financial literacy to students taking out loans or similar programs to try to let the new student know what it is they're setting themselves up for when they take multiple loans to finance their education and/or their lifestyle.
*although that said, sometimes people just pick expensive schools that the expense of going to that school isn't going to be covered by the cost of the career the education leads to as well.