That is not entirely true. I know kids with nursing degrees, finance, and accounting degrees, business degrees and the like who are sucking air because of loans.
the predatory nature of the colleges is a big issue.
the drama is around the fool degrees, there are few of those, is is mostly around the heavy burden on all of them
There are alternatives to getting degrees (or at least certified) in those fields that won't get you in debt for over a hundred thousand dollars. It comes down to making the right choices, but it also comes down to making sure our children are aware of those alternatives.
With those who are in this position, if we are going to implement a policy of debt using your method to make the colleges pay for their tuition, then they should forfeit their degrees. I agree with you that colleges shouldn't be trapping our children into huge loans with outrageous tuition, but I don't agree with the students getting something for nothing either.