It will be a cold day in hell before colleges allow the narrative to shift to show prosperity can (and probably will be) obtained outside of their avenues. In IT for example if you have an in and a path you want to follow, and the motivation to teach yourself, you can do OK w/o a degree.
Govt shouldn't pull out completely but they should definitely control the flow of money better. Cap public and private loan amounts, only subsidize professional majors, etc etc... a lot of these colleges would die out w/o loan money so it seems only right for the govt to use that to the people's advantage.