Matt Gagnon discusses the high cost of college education, noting that tuition at the University of Maine is around $17,000, with additional costs bringing the total to $30,000 annually. He criticizes the student loan system, highlighting the financial burden of degrees with low earning potential, such as English Literature or art, which can lead to significant debt. Gagnon suggests reforms like capping interest rates and promoting community colleges as a more affordable alternative. He argues that the current system encourages irresponsible borrowing and advocates for rational expectations tied to degree earning potential.