I would not have a problem with that. The real problem is that college was a bubble that is now slowly starting to deflate. Demographics of fewer kids and more knowledgeable customers realizing college is always necessary or economically worth it ensures that the amount of dollars going to the academia is going to shrink.Another approach suggested was to have colleges co-sign the student loans. They would have a vested interest in the cost and effectiveness of their product.
Easy students caused the bubble to inflate.