Realistically, I think that's going to have to be what happens. The horse is out of the barn. We can close the door through reforming student loan programs, but we have to bring the horse back, first.

I say this as somebody who graduated college in 2010 with fairly minimal debt that I've already paid off. I was extremely lucky in my choice of career (and knowing I wanted to do it at the time) and I made better choices than most with regards to picking colleges and what school I attended, and so it kinda pisses me off a little bit--but me being pissed off is distinctly secondary to we have saddled two entire generations with impossible debts in the chase for "employability".

A viable one is to let students default on their debt. Then colleges incentives to survive on tuition will align to the students capacity to increase their income.

There shouldn't be (considerable) debt going into dead-end college studies.