[allears]

This is a great example of a ham-fisted regulatory response to a real problem. Colleges have no control over what graduates earn. Presumably, applicants evaluate colleges based on their career choices, and the successful track record of former graduates. But the job market is a moving target, and it's the student's responsibility to choose the right courses and majors to fit their goals.

Furthermore, as other people have said way better than me, any time you measure performance using a single metric, performers start optimizing for that metric alone. That's what leads to a trade school, not a college. Maybe colleges are obsolete, but there's a breadth of knowledge you can't get in a trade school.