"they forget why the electoral college was created. To help rural America from being completely ignored while the cities with denser populations sway the votes towards their issues"
The Electoral College is rigged the way it is because otherwise the slave states would not have joined the union. That is the only reason. There were more voting white men in the north and more non-voting slaves in the south. The delegates to the constitutional convention from the south new that the north would outnumber them in direct elections so they invented the electoral college system. It should have been scrapped after the civil war.
I am from the US and the government also paid for my education entirely, no strings attached. I could have studied Byzantine erotica if I had wanted. This is not a US vs world issue.
Why should lenders not be punished for financing the useless degree? After all the availability of easy financing drives up the price of the useless education.
Remember, the "moral hazard" spoken of in financial bailouts is that the lenders aren't being punished for taking bad risks.