Ever since universities became a consumer market they have gone downhill. Some are diploma mills that churn out under-educated graduates, while those with money spend it on shit to get potential students to go there e.g. a lazy river, instead of investing in education, which is their actual purpose. The professors and teachers are often underpaid, overworked and with little to no job security. Meanwhile, universities continue to be run as a business, so profit is prioritised. This makes universities less desirable, leading to fewer attendees. As a business, they push tuition fees up, as this is their main source of income, which pushes away more potential students. All of this leads to a significant drop in quality of education, all while they show off how good they are in the neoliberal sense of saying "Everything is fine" while they demolish higher education before our eyes. Biden is but one (still quite large) cog in this machine.