All the gov would need to do is mandate that colleges charge tuition as a percentage of post-graduation salary, and you'd see half of these low quality colleges peddling worthless degrees go bankrupt overnight.

At the end of the day, this country needs to decide whether the role of universities is to train students for career paths, or purely to provide higher education. It's very difficult to orient the structure around both without the incentive's being misaligned towards one of them.