As a tenured professor for 10 years and now a teacher at an elite HS, the biggest problem was the "everyone should go to college". If you were look at some of the students I was getting toward the end of my college teaching career, I'd say 1 million less students isn't a bad thing. That's about right in terms of students who have no business being in college.
I agree with so many of you on here. Many people would be happier as a plumber, IT tech, electrician, etc, but they have been told their whole life that "successful people go to college." It's simply not true. Yes, you have some more options as a college graduate (in some majors), but you have plenty of good options without one if you're a hard worker and a non-traditional learner.
All that being said, college tuition is a scam. Part of why I left. It was heartbreaking to see my school charging someone $40K a year that I know had no hope of graduating. That, unfortunately, is the game in the non-huge endowment college field. Convince kids to take out loans they'll never pay back by saying how great a college degree is all the while knowing they simply don't have the chops to make it. That's not all of the colleges (or all of the students), but it's enough to keep you up at night when you know it is going on.
I STRONGLY believe community college should be free. Everyone should get to dip their toe in the higher education pool and see if it is right for them. If you can't make it for a semester at a CC, then no worries. No debt, move on with your life. If you are one of those people that find out you can make it, then two years at a CC saves you a ton of money in the long run, and good grades can get you into pretty much any reasonable college. On the other hand, I strongly disagree that all public universities should be free. It would force pretty much all small private colleges to shut down or become satellite campuses for a public university.