There's another explanation for "there are too many graduates", which is that universities increasingly give diplomas to people who don't deserve them, becoming

There's another explanation for "there are too many graduates", which is that universities increasingly give diplomas to people who don't deserve them, becoming diploma mills and collecting ever increasing tuition from too many students. I've taught at a university and felt the pressure to assign higher grades even though I felt I was being fair. The whole concept of aiming to give the same percentage of As, Bs, etc in each group of students is antithetical to the idea of a degree, and is one factor that led to my deciding to never teach again.