Taking this as an axiom, there are several important considerations.
1) The grossly inflated higher education bubble is sooner or later going to burst. It likely won’t happen because of the feds, but because the states are no longer willing to spend most of their budgets to pay for it.
2) Even though many students might be willing to put themselves in indentured servitude for the rest of their lives with student loans, this is going to have to collapse as well.
3) Universities will be slashed until they provide only very limited professional majors, and pretty much cash on the barrel head, with states willing to pay partial tuition for critical needs graduates. But still a fraction of what it costs today.
4) Degrees acquired before the collapse will be seen as inflated and worthless for most jobs, so independent testing and certification will be used to select new hires.
5) Student loans may have to be erased as part of the national debt restructuring. That is, the national debt will need to be renounced, along with any obligations to pay the debts of “too large to fail” financial institutions.
(Note, part of this new finance bill again gives FDIC backing to banks that engage in derivatives gambling, thus making the US responsible for tens or hundreds of trillions of imaginary dollars lost in their gambling.)
” Degrees acquired before the collapse will be seen as inflated and worthless for most jobs...”
I already see it that way, at least in the hiring that I do.
Wait. Are you saying that PhD in Womyns Transgendered Studies might not provide a good long term career path?
the sooner the better