What we’re seeing here is a classic example of what’s good and what’s bad about a “blue boilerplate” approach to a social issue. The good part is that Stiglitz really is concerned, as all serious people should be, about how to ensure that Americans from lower income backgrounds have real opportunities to advance themselves. And he’s certainly right to see the high cost of college education as a barrier.
The first question for resolution by society and not government is, “Who should be extracting the value of the degree?” Currently, it is mostly flowing to the educators / administrators. Their service for this value is, of course, to indoctrinate all those youngsters and encourage voting for Democrats. Because government, and not society, directs these institutions, I would therefore predict that current trends will continue, until collapse, either under its own weight or due to upstart competition, or both.