This exists in a couple of different forms on government student loans (Income Contingent Repayment for example), but it's the government that takes the hit, no

This exists in a couple of different forms on government student loans (Income Contingent Repayment for example), but it's the government that takes the hit, not the university. The university's incentive is to talk about the benefits of a well-rounded education, and I agree with that (One of my majors was Philosophy), but for a university to take what is now exceeding $100/hr of instruction on credit, for years on end, with no reasonable hope of hardship-free repayment sounds like Scientology or some other cult.