People should be able to get an education no matter their social standing. It shouldn't be tied to this idea of job prospects because commodification of education is a sham.
I did not not in any way say that some people shouldn't be able to get an education. I said if the education isn't valuable they shouldn't get one, but there are many valuable education paths to take.
And who defines whether or not an education is valuable? Teachers don't have very good job prospects (low pay means they're less valuable), do you think it would be a really good idea to restrict who can become a teacher to only the reasonably well off?
I have no problem with people wanting to be artists. The world needs art. However I have a problem with someone spending more than they can afford on anything. Want an art degree, first get a job and save up as art will never pay the bills (there are exceptions that prove this rule). Once you can afford to live (that is eat and a tiny home: the minimums) go ahead and get whatever luxury you can afford. Some get an art degree, some a nice car, some collect stamps, you can have a family. I don't care much what you choose so long as you are not beyond your means.
If the only value of the degree is it makes you well rounded, then universities should ensure that only enough people start down the path using loans as their are tenured positions expected to be open in 10 years. If there is industry demand elsewhere then meet it.
I don't know how to solve the problems of someone declaring bankruptcy as soon as they finish their degree though.