The Trump Administration has proposed a new rule for college loans and grants: if your proposed degree will not result in a higher income than no degree, the government will decline to fund your education. That's a start. In truth, the government shouldn't be funding education at all, especially college education. However, this is a step in that direction. There is no reason to get a degree in art history just to work as a barista at Starbucks. Even before this new rule, many colleges have been pruning degrees that don't lead to high earnings. The student debt crisis combined with the underemployment of recent grads is changing the education landscape. The shrinking pool of students - a result of declining population - will lead to a reduction in the number of colleges. Some have already closed.
The quickest way to resolve the student debt problem is to get the government out of it and then allow students to declare bankruptcy on their debt. Watch the cost of college plummet, the number of worthless degrees vanish, banks demand that colleges provide proven value, and students take responsibility for the debt they incur rather than look to the government for a bail out. As is, we have too many 'educated' people and not enough jobs that require that education. Turns out that the blue-collar jobs like a welder or electrician are far more profitable than the white-collar jobs these days.
