As an educator and a person with multiple degrees, I have to think the question should be, "when did college become about anything other than employment?" The fundamental error made by the author is in assuming education can only be gained through some sort of formal educational institution. I've learned far more on my own than in classrooms and paid far less for that knowledge.
Also, $100k of debt is an awful lot to pay for education, especially when there is no means of paying off that debt in the future. Being a Renaissance Man is all fine and dandy, but it needs to rank under fiscal sanity in importance to our lives.
This article is particularly amusing as we spent the last thirty years producing the sorts of people the author wants, and lo and behold, they cannot find work. Education should be focused on useful skills; the liberal arts aspect can be done on our spare time without paying thousands of dollars for it.