The point is for the free market to handle this.
You are so right...the free market will sort this out, unless that is, the cronyies in Big Ed are able to use the government as a blunt instrument to pervert the market. This is what liberals have done not only in education, but in energy, housing, mortgages, etc, for decades, and almost every free market failure in history was due to government perversion. Every free market recovery in history was due to the invisible hand of the market and the dyanamics it drives using human nature as the fuel.