You can see a steady inverse relationship between the rising cost of college, and the falling value of a general college degree over the last 30 years. We need to seriously "ReformCollege." Too many of the general introductory classes would be better done as a low cost online certification, rather than an actual degree. That would fulfill the basic requirement of allowing college to educate people and introduce themselves to different things in the world; meanwhile keeping the current, more expensive, college structure for smaller class sizes, and more intense learning. There is absolutely no reason why I should be required to sign up for an 500 person introductory course, and pay $750 to fill out three scantron tests.
As far as liberal arts degrees, my personal opinion is that its good to take a few select liberal arts courses sporadically to cultural myself and force myself to think and see things I otherwise wouldn't have. But I'm still getting a degree to get a job, if we are going to sell college as a vessel for class mobility, and it is going to be priced as such, then the degree needs to get you a job and it needs to pay itself off.
"The inherent vice of capitalism is the unequal sharing of blessings; the inherent virtue of socialism is the equal sharing of miseries." -- Winston Churchill