The reality is that we just need cutoffs.
Everyone LOVES to give a circle-jerk to countries that have "free" college - but the reality is that every country they ever cite isn't "free college". It's "free college if you have the academic skills necessary to qualify".... Oh I'm sorry, you're too stupid to qualify, I guess consider a trade-skill.
The above quote is not something the Politically correct left ever wants to tell their stupid base when they don't qualify.
Nobody would challenge that observation.
Lately we've seen the growth of for-profit universities, with an equal growth in tuition scams and abuse of loan programs, degrees that don't meet even part of their promise.
It was rumored at my campus in Virginia that economic departments reduce their PhD output in number of graduates when the market is bad for PhD economists. In other words, they simply increase their selection criteria or raise the standard. Often, you could see this temporary policy from the way they handle more persistent students who can at least pass all the exams. One professor told me that University of Chicago kept him scrambling for 12 years on his dissertation until they finally granted him the degree.
What might be best is a system that prepares students generally for the world, or providing them self-learning skills, while offering education in specific skills for specific jobs, as one might find in a trade-school.
"Shake hands with the man on your left. Shake hands with the man on your right. One of these people will not be here next year." Everybody remembers the script-line from "Paper Chase", when John Houseman tells Timothy Bottoms:
"Hart? Here's a dime. Call your mother. Tell her there is serious doubt about your becoming a lawyer."
Trade schools shouldn't work like that. And quite frankly, that was the way things worked in the '60s and '70s. In the public institutions, they had a simple rule-of-thumb: Fail half of the freshman class; fail a quarter of the sophomore class. If you made it through your junior year, you were fairly sure of finishing your degree.
Today, we have "consumer education" institutions. Professors can be let go for pushing the students too rigorously. We have wealthy celebrities buying entrance for their kids into prestigious schools. We have veterans being scammed for tuition and overwhelmed with loans, when it was once possible to get through school on the GI Bill.