“discharge in bankruptcy”
No school will want to be anywhere near the top of the list of grads needing to declare bankruptcy; their diplomas will be regarded useless
they will pare their costs back to reality levels ...and offer degrees of need and utility to society
That would be a great idea, rank schools by default rates. Add in graduation, dropout, and (if possible), rates of students working in their degreed fields, or unemployed, it’d really begin showing the value of a particular school’s education and degree programs.