I actually think we should be decreasing demand rather than increasing supply. Not every job needs a college degree, and allowing more people to avoid college altogether would naturally drive prices down from the demand side. The hard part is that I don't know how to make employers accept non-degreed applicants, outside of having Peter Thiel shout at them to do so.
I agree. At least in my country degrees are commonly used to filter applicants for jobs that could easily be done by someone with way lower level of education. That's not a healthy system. A degree should teach you skills that you need and can actually utilize in the work you will do.