It doesn't help that any student can get a loan to study whatever they want, often without any regard for future income potential. Most STEM majors don't have

It doesn't help that any student can get a loan to study whatever they want, often without any regard for future income potential. Most STEM majors don't have problems finding jobs. The days of an Art History degree being enough to qualify you as a "college graduate" for a 9-5 desk job in an unrelated field are certainly over. Which makes sense, economically. More college graduates means more specialized degrees to fill niche jobs, which generally pay better. Bushiness have a better chance of getting someone who's degree matches the job position, and don't need to settle for "college graduate" in unrelated field.