I think this is generally a good thing. I believe there are really two positive things that can come out of going to college - either you get a name-brand degree that opens doors and gets your resume looked at, or you get useful skills that enable you to go down a particular career path (e.g. CS degree). Obviously in some cases it'll be both.
The reality is it's really tough to make any case that a humanities degree from a lower or even mid-tier college is a worthwhile investment of money and time. Now obviously there are scholarships and students who come from wealth for whom this is less of an issue, but to pay tens of thousands of dollars a year for a degree in classics from third tier U is just an objectively bad choice for most people.
Hopefully this is the market working - people are learning how to value educational degrees based on what they'll actually yield financially and making decisions accordingly. Those schools that are providing substantial negative value to their students ought to go under, and the students who would attend them and end up in huge debt with minimal job prospects will make a better investment, like working for four years, going to a trade school, etc.
The reality is it's really tough to make any case that a humanities degree from a lower or even mid-tier college is a worthwhile investment of money and time. Now obviously there are scholarships and students who come from wealth for whom this is less of an issue, but to pay tens of thousands of dollars a year for a degree in classics from third tier U is just an objectively bad choice for most people.
Hopefully this is the market working - people are learning how to value educational degrees based on what they'll actually yield financially and making decisions accordingly. Those schools that are providing substantial negative value to their students ought to go under, and the students who would attend them and end up in huge debt with minimal job prospects will make a better investment, like working for four years, going to a trade school, etc.