Jackie Krowen made a big mistake.

It only took a couple clicks of the mouse…but she'll be paying for it for the rest of her life.

She racked up more than $150,000 in student loan debt to become a nurse. The average nurse in the U.S. earns $5,660 per month. After taxes and living expenses, Jackie barely scrapes by.

Jackie is the security for her loan. She can't get rid of it. She can't hide from it. She also can't ever pay it off.

She says it ruined her life.

Jackie isn't alone…42 million people have student loan debt in the U.S.

Together, they owe more than $1.3 trillion.

Today's mountain of student loan debt cripples the U.S. economy. It buries young people in unpayable bills. It sucks hundreds of billions out of the private economy.

If you're influencing your child or grandchild to go to college, I want you to read today's essay very closely.

The Myth That College Is for Everyone

Most young people have it drilled into their heads that they must attend college. Any question of costs gets a scowl from the older generations.

However, college is not for everyone.

Doug Casey: Education is something everyone needs. But people have been programmed to think that if they just log 4-6 years in a college, at huge expense, they'll get one. In fact, an education is something you get for yourself; no institution can bestow one on you. And sitting in a classroom listening to some academic drone on is probably the worst way to get one. Students cut classes, fall asleep in class, take poor notes, and daydream. Then cram for exams and forget it all the next day. College, for 90% of students, is about partying.

My suggestion is to go through the catalog of thegreatcourses.com, and start watching and listening as world class profs give command performance lectures. Listen to them as many times as you need to. The same for the curricula offered by MIT, and many other universities online. There are many lists of great books. Read them. There are fantastic lectures on youtube. Watch them. The Internet contains all the knowledge in the world; it's a billion times more valuable than the Library of Alexandria.