In 2013, we learned that half of college graduates were working at jobs that did not require a college degree.
In 2014, we've learned that half of college graduates have to rely on their parents for money, half of African American graduates are underemployed, and half of federal student loan borrowers are not making their payments on time.
Our higher education system is a mess, and if New Deal policymakers were alive today they'd be horrified. But they're not alive today, so don't expect any changes to the status quo. For most of our political "leaders" today-- as long as they keep getting campaign cash from millionaires & billionaires--the issue of college graduate underemployment and crushing student loan debt is irrelevant. It is quite clear that they do not consider college graduates from middle & lower-income families to be their constituents. They consider the super-wealthy to be their constituents and the super-wealthy have little fear of joblessness or debt.
Our college students & our college graduates need a New Deal. Unfortunately, all they're going to get is an oligarchic culture of low wages, high debt, and public scorn.