I personally like the idea that makes the colleges and universities responsible for the loans. How many take majors that have zero possibility of securing a job when completed? Or the job pays so low that the person is in perpetual debt?

Is that brought up when one enrolls? If they want to hand out ridiculous degrees then they should be responsible to the earner of the degree for some safety in paying back money loaned for that.

And stop adding programs to the schools that are administrative only and are not really used by the students. Finally, make the professors actually teach their courses and instead using TAs. Make the prof earn their money.