“How do we fix it?”
That was also my first thought and it something we on FR should have some serious discussion (if that is possible).
College costs have risen astronomically since the feds took over the student loan program. College had a guaranteed sugar daddy called Uncle Sam. So maybe the feds need to get out of the loan business and turn it over to banks where it was originally.
All departments of the government provide grants to universities for research and more. A large amount of the money is wasted on ridiculous pursuits. Trim government money back to the bare bones and let private industry fund the necessary stuff.
State legislatures need to provide tight oversight to colleges and universities. There is tremendous waste. Once tenures some professors only teach one course a semester or become designated as a researcher of some unnecessary or foolish topic. Then they sit around all day doing nothing but championing socialist schemes.
Liberal educators really are trying to change our American culture. They are bad news. I am sure you have other suggestions.
Do these things an you will see more conservatives enter the university picture.