It isn't just about 'the major.' Yes, some majors are more profitable than others. But, that does not mean someone won't get a disability, the certificate/major simple not be applicable anymore, location, family emergencies, economic crises...yada yada.
Truth is, education is like any other investment. Students take a risk of spending four-six years of their lives toiling at mostly pointless crap, to get a piece of paper that might be or might not be a return on investment. Many times people find jobs completely unrelated to the field they are employed in. A person who can market themselves may do really well with a Philosophy major, and then become successful. A person who is extremely disorganized may have a degree in engineering but never land a job. There is risk with every major.
People accept that businessmen invest and it has risk. When a businessman declares bankruptcy, people don't go around blaming their decisions, marketing a product that is doomed to fail, or working in a niche market.
People argue that the degree is a lifetime thing, and say that "you get that piece of paper and they can't take it away." While a businessman can liquidate, but they still have *experience.* They still can put specific skill sets on their resume. What if they managed 1,000 people before they went under? Banks have never been able to take experience away. A degree is no different.
On a side note...I personally work in Social Work. Which requires lots of qualifications (License, Master's Degree, Insurance, some require car) but pay is low (I was offered as low as 32,000 in an expensive metropolitan area, that required use of my own car. They required me to pay the costs of business car insurance, gas out of pocket, and other general expenses. Health insurance wasn't great, and the job probably took closer to 60 hours a week...no overtime. This is not to far outside the norm). An MSW is a 60 credit hour program with the going rate at 600-800 an HOUR. Looking at 36,000 - 48,000 give or take. Add in an undergraduate degree...and the loans really hurt. (Yes, I am under the new IBC rules).