The Student Loan debt is not paid to colleges - !!!!
If they are in trouble - they need to attract more students or cut costs - or go out of business
Possible that college - if really educating with enough variability in courses with solid teachers and labs and ....- is not a business that can self fund (unless it is QUAK no education for profit diploma mills )
May be that State Universities - with some GOV help plus tuition is the only solvent business model for a REAL college education