As long as we're talking about expensive college and loans. I had a thought about this the other night.
I've had a few thoughts about this as well. A friend of mine and I had a discussion about this about a decade ago, and we still arrive at the same conclusion - college costs a lot now because 1) the easy availability of student loans and 2) somewhere there's a college that will admit you no matter how bad your credentials are. You might not get into Harvard, but someone will take you.
I don't know what the numbers were like in the past, but as of right now, about half of all those entering college will leave without a degree. They don't finish. Maybe it's money. But maybe they shouldn't have gone in, in the first place. Businesses are requiring degrees for jobs that seriously don't need them. As far as I can tell, they're used to weed out applicants.
So another reason it costs so much is - demand. Colleges admit as many as will apply - because their admissions requirements are "flexible" - so they up the cost. And the half that drops out leaves with a debt burden they should never have undertaken.
So what should we do? Well, right off the bat, admissions needs to be tighter and loans need to be harder to get. I'd go with part of the idea that federal and state dollars ought to be conditional, but that the conditions be part of financial aid. A really, really good student shouldn't have to walk out the door with a lot of debt every bit as much as a lackluster student shouldn't be admitted at all. Schools getting federal dollars need to up their financial aid packages and scholarships.
The second part - well the second part is a systemic change. We need to as a society adopt some kind of system where we can hire a person whose skill set is directly related to their education. Right now most schools still observe a sort of "university" standard of broad education which is antiquated and mired in the 18th century, where rich kids got a liberal arts education, learned a language, learned history, some math, maybe Greek or Latin - but they were being trained to enter rich society. We don't live in a world like that anymore - everyone tries to go to college, not just the upper crust. You want to be a botanist? What do you need history and the arts for?
FIND a way to gain certificates or training FOR the job you want. Maybe it will take industry to cooperate - more internship programs. We have scores of people out there that took certified network courses but never went to college - they know more about networks and security than any kid leaving college - because they were trained for it. And a kid leaving college with a comp sci degree will invariably be trained on the job for his eventual career - why not START there? What the heck did they waste four years and a hundred thousand bucks to be trained all over for?
Anyway - my kids won't be going. One will never qualify, and I can't afford the other two anyway.