George Leef, M.D. (Master of Deregulation), has the diagnosis here and offers this prescription:

“Instead of having the federal government get still more deeply involved in higher education – funding it and regulating it – sensible policy at this point must center on getting it out of a field where it never had any business in the first place. Let’s hope that [Wisconsin governor Scott] Walker and the other candidates are willing to talk about curing our case of credentialitis by downsizing the government’s role.”