700 euro per year for 5 years = spending more than earning? Hm.
This might be in the US, but only insane people go live there.

700euros per year for college means people that don't go to college pay for people that do go for college, poor innovation, poor quality, lots of waste, bad administration and a useless degree at the end because too many people will get a degree
You lost the money you could have earned in 5years, the skills and connections you would have got as well
You just said that any colledge in Austria is bad because it's 700 euros per semester/year (not exactly sure right now anymore)
You have no idea what you're talking about.

700 euros per year is very cheap for a college education. It costs about 5 times that where I live.
Colleges in the US cost a lot I know. You are supposed to educate yourself, but then they put these crazy costs (makes sense doesn't it).