I'm not sure it's a farce, or at least that's not the word I would use. I haven't graduated high school yet (3 months to go) but I think it's probably better for people to have more knowledge on a subject. So if we're raising the bar, I don't see how that's a bad thing. Eventually the system will catch up and student loands will get remade into a better system, but until that time you can definitely avoid accumulating $100,000 in debt; state schools are much cheaper, and there are plenty of scholarships and grants available if you look in the right places.