> It will help keep college cheap: if what they teach is worthless then students should welch.

Just the opposite, presumably the best colleges that product the highest earning graduates cost the most, those high earning graduates would be might more incentivized to start over than someone with a lesser degree because at least they'd be part of a high paying field and immune from needing to use credit.

>Maybe put the school on the hook in some way too, forcing it to actually screen for talent (which would absolutely murder DEI lol), that way investor isn't totally SOL if the school was the useless party.

You're so wrongheaded there, I don't even know how to get you on the right track, but companies, and schools, with so called diversity hires do better overall. Schools already screen for talent and the ability to graduate, DEI initiates just have them look a little harder in an expanded pool.