The easiest way to return balance is to introduce risk to the lender. Right now they can loan any amount to any person and have no fear the person will declare bankruptcy.
An even easier way is to allow businesses to administer written tests to check that applicants are literate and have knowledge of the field they are being hired in, without being charged with discrimination of certain groups don't pass at the same rate as white males.
That would make a college degree optional. Currently, businesses want a degree to attempt to ensure some basic level of literacy. Directly testing would be more effective.