Pray tell what is someone going to do with a degree in English literature, social science, journalism, history, French, political science, or math?
Exactly how many jobs are available in those areas compared to the number of students getting such degrees?
Read all of Mish's comments here. He's got some to say on the student-loan racket. It is approaching fraudulent to take students' money for classes in many subjects and downright criminal to encourage big-buck loans to finance degrees in those subjects. People are convinced that they have to have college degrees or that everyone is capable of doing university-level work; they beggar themselves and waste four years in fruitless effort, coming out yoked with debt and little better informed than they went in.