Ran into this chart and had to put it in here. One reason why American incomes are dropping, and why today's college grads have such poor prospects:



To me it makes perfect sense to stop subsidizing loans, or to stop providing any publicly funded loans, to students studying subjects with little or no relevance to the economy: you want to study performing arts, great... just pay for it yourself, because your chances of paying back a loan are slim to none.

Next step would be actually subsidizing students willing to take on the rigors of economically relevant courses of study... gotta wonder what the political will factor there would be!