And the corollary: we destroyed the value of a high school diploma by lowering the standards and just shoving everyone through, so you need that magic degree more than ever now.
It does: if degrees cost more, fewer people can access them, so the market has fewer people with that expertise, so they can make more money.
Unless there are other schools that provide the same degree for a lower cost.
You missed the key step that the people who access these programs are already wealthy, and wealth breads wealth like rabbits.