Further to my last. . .
I would propose making the first two years of college government-paid. Why not? Free, mandatory public education was once 8 years. Now it's 12. Surely the increasing complexity of society calls for more "basic knowledge needed to be a good citizen.' Why not expand it to 14? The extra two years could be the "core requirements" most colleges impose. Then you only have to go to college on Dad's or Uncle Gummint's or the Friendly Neighbourhood Banker's dime two years.
Here's another notion. I don't know about up there, but down here student loans are a cash cow for lenders. Maybe we could set up a government-guaranteed program that would provide a fixed, 4%, iron-clad return on investment, and provide student loans at a fixed 7% rate? The excess could pay for defaults and operating costs. It would require the borrower to have some "skin in the game," provide a great deal for the conservative part of investment portfolios, and eliminate much of the chicanery that, down hear leastways, is involved with "guaranteed student loans."