Agree to a point - but not with your list of villains of the piece. Many older nearly-boomers now don't encourage their children/grandchildren to go to university - we know from experience it doesn't always lead to earning big money, and the debt incurred is eye-watering, quite likely not worth it.Because they're told by employers, society, school, government, boomers that Uni is the only way to get a good job or else we'll end up at Macdonalds (pay higher than some roles that require a degree).
The real driving force is the legion of highly commercial former technical colleges, art colleges and catering colleges now fighting in a glorious free market for the lucrative business of awarding degrees.