College was taken over and misused by a bunch of unproductive pseudo-intellectuals who figured out the only way their obviously stupid ideas could gain a foothold would be to form indoctrination camps for inexperienced adults. That's probably not surprising to anybody here.
But while they were doing so the world changed and the distribution of information was radically redesigned by the internet. While colleges probably could have adapted to this new landscape, they were far more concerned with dogma and societal change. At the same time, the government wildly distorted the economics of education with, go figure, unlimited money.
Now the cat is out of the bag as my generation, the millennials, are facing the reality that their degree did not, as they were promised, result in a more lucrative life. It did give many of them an inescapable financial anchor around their neck. The gen Z kids behind them, at least the latter half of the generation, are beginning to reject the system that is quite obviously built on false promises and lies. I suspect at this point it's too late to save the system, and there will be a split. College will return to the playground for the rich and breeding ground for politicians, while everyone else will shift back towards on the job learning, heavily supported by much cheaper and adaptable online courses.
We haven't reached the final act yet because the money printing has only just stopped, but when unemployment starts going up and the long due pandemonium from the last 15 years of intentionally blind spending comes due, the idea that middle and lower class kids with no road map for their entire adulthood will just go to six figure institutions to get drunk, fuck, and occasionally sit in a room with 500 other people learning subjects they don't need to know, well that just isn't going to hold when people can't afford it.