One additional area which needs addressing is accreditation. As long as the Left controls that, meaningful reform is impossible.
I’d also like to see more accountability from the universities on useless degrees. One thing that would help is publishing more statistics about the salaries of graduates from each university, both starting post-graduation salary, and 5-years-later salary.
Lastly, universities need to be on the hook for student loans. If their graduates can’t earn enough to pay back the loans, the graduate should be able to discharge the loan in bankruptcy, with the university eating the cost. Overnight, that would result in universities tightening up on who they admit (to exclude those who won’t make it), and what majors they offer (to exclude majors which do not prepare people for careers).
Currently, accreditation=cartel and that needs to change. Of what use is accreditation if it permits granting degrees in unscholarly nonsense? To this add grade inflation and absurdly high dropout rates as examples of fraudulent practices that accreditors ignore.
Real reform would make it easier to become a recognized accreditor (ending the industry monopoly), remove the antitrust exemption they now have, and divorce accreditation from eligibility for federal funds. Oh, and colleges need to report data to the ED so that it can produce statistical data in how their students fare by institution and degree program.