For our parents' generation, higher education came with the promise of gainful employment, career advancement, and upward mobility. Sadly, in today's economy it seems like a college degree only comes with one guarantee – insurmountable student debt. It is estimated that some 40 million Americans owe more than $1.2 trillion in student debt. I am one of them. At age 33, having been out of school for more than five years, I am still carrying more than $100,000 in debt from my undergraduate and graduate degrees. [Related: [Watch] A Conversation With Millennials About Student Loan Debt Solutions] I worked to help make ends meet during my college years. I held jobs at a supermarket, a movie theater, and later worked on campus. I stocked shelves, bagged groceries, and sold a lot of popcorn, but it wasn't enough. Federal loans did not suffice either; and with the stupefying cost of tuition, housing, and books, how could it be? Now, I continue to chip away at my six-figure debt – much of which is from private lenders with variable rates that fluctuate from month to month.  Because private lenders write their own rules, often my payments barely make a dent. My wife, a successful dentist, is also working to repay significant loans. Together, we estimate it will take the better part of the next decade to dig ourselves out of this hole. While carrying this substantial burden of student loan debt, we are raising a family, saving for our daughter's education, running a business, and trying to save for retirement, This is the new normal, and you don't need a degree in economics to realize the widespread impact it will have on our nation. More and more millennials, like us, are forgoing buying homes, buying new cars, and other major expenditures because of student debt. Is there any doubt that our dollars would be better spent on investments in the economy? Don't get me wrong. I value my higher education. I empathize with our colleges and universities. They have weathered significant cuts on both the state and federal levels over the years, but we cannot bury our heads in the sand while continuing to pass the burden on to students. We have to restore state and federal funding for higher education to help institutions lower costs for students. State legislatures need to lead on this issue. We must work together to find innovative solutions for students and families. The system is broken and it is now time for some fundamental changes in the way it operates. First, when it comes to income, all degrees are not created equal. Public universities should consider adjusting tuition based on the Return of Investment models for various degrees. For instance, the average first-year salary for a student majoring in education is $36,000. For engineering, it is estimated that they will make $52,000. Tuition costs should reflect this disparity. We also need to consider expanding loan forgiveness programs for employees in public sector fields. Asking them to wait a decade is hardly an incentive when some of these loans can be forgiven at the beginning of their careers, with the understanding that they will remain in service. (Continued on next page) We must begin to recruit the best and the brightest students to in-demand fields right out of high school, rather than have them rack up debt as they figure out their career path in college. Better career guidance and planning, coupled with access to Advance Placement classes and Dual Enrollment programs, can help high school students get a head start on their college careers and credits while avoiding college costs. Finally, private lenders need to be reined in. This is a big business that preys on students through unscrupulous practices, rigid terms, and traps hidden in the fine print. Many private lenders outright refuse to renegotiate payment terms, and there is no shortage of horror stories from students who were driven to default. We need to better educate students on the dangers of private loans while cracking down on the lenders' underhanded practices. My personal experience with student debt has made me an advocate on this issue. It has also forced me to be financially disciplined almost to a fault, and to live well within my means to provide for my family. As I look at my pregnant wife and think about the life of my new daughter, I often wonder, "How she will afford higher education?†It is time for colleges and universities to think about our future, and for states to take the lead. Together, we can reshape higher education to roll back the debilitating student debt that cripples our families, and restore the promise of a brighter future for all. --written by Anthony Daniels Anthony Daniels represents Alabama's 53rd Legislative District in the State House of Representatives. A former Chairman of the National Education Association Student Program, he holds undergraduate and graduate degrees in education from Alabama A&M University. Rep. Daniels resides in Huntsville with his wife.