When we talk about colleges, we need to define the terms. 80 years ago, 3% of US 20 y.o. population was going to college. This was an elite thing. In 1970 maybe 30% of men and by 1990, 30% of women. Now, it is 60-70%.
So, first, an “average” American now goes to college and work prospects for those who do not are diminishing both in quantity and quality.
Second, college education is not what it was to be, 90% of it is simply preparing people for routine jobs, not engaging in medieval philosophy. So, issues are completely different from what R Feinstein, R Hutner, etc were confronting.