1. Most people get a degree to pass degree checks in jobs.
2. College is stupid expensive.
3. Unlike with other goods and services, there is no way to get your money back on bad service/goods here
4. Professors can basically do whatever they want
5. Fed student loans are in the same group as criminal judgements of debt.
When I look at all of these, logically, you expect a return from the cost. And the return isn't knowledge, but a diploma. And humans being good tool users, use a tool to raise the chances of getting that (half-assed promised but not really) diploma.
Hopefully, this will destroy universities as diploma mills, and go back to proper academic rigor and study. But one can be ever hopeful, I guess.