[pneill]

The core issue is that there isn't a free market at work here and there are conflicting motivations that are preventing progress toward that model. One the one hand, people want higher education to be affordable and cost effective (which requires a free market) but on the other hand they want higher education available to all even if that means taking on an ROI negative course of study.

For example, if we allowed student loans to be a bankruptable form of debt, then over time, certain schools and majors would be unable to get loans, which then could have a series of economic responses such as universities increase tuition for ROI positive majors to support ROI negative majors or some departments might close or we might see consolidation of universities specializing in certain types of education.