This is why I think the way forward is to replace the University with the Campus, a kind of walled garden city with costs kept artificially low, where students are free to pursue their independent projects. Ideally, you'd make them literally walled and in desolate locales.
The university system is a victim of its own success. You can't have an institution devoted to the cultivation of the mind when every student knows he's paying the equivalent of a mortgage for the privilege of attending. Of course only strivers and hustlers would attend.