Stop the madness! The Consumer Financial Protection Bureau estimates the total amount of student loan debt is $1.2-trillion! But economists say much of that money will only qualify your kid for a retail job.

University of Maryland Economist Peter Morici says parents need to know college isn't for everyone and you should do some research rather than just automatically ship the kids off to school.

"The federal government is making too many student loans. Folks are investing in educations that won't pay out and they'll be saddled with debt the rest of their lines."

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Professor Morici says the economy hasn't grown sufficiently in the past ten years or so and there just aren't enough good jobs for college grads.

"There's less demand for American college graduates just like there's less demand for skilled tradesmen and folks doing ordinary jobs. Too many young people are basically getting jobs at Starbucks or not getting jobs at all."