I’d bet the average person would be better off with one year of college and three years of unpaid internships than four years of college and four years of student loans
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Getting rid of internships as a source of unpaid labor is a much more solvable problem, at least where for-profit companies are concerned. That conduct is explicitly illegal. Colleges (disingenuously) can say, "Well, we didn't know" and still keep the money.
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I hear you, but not all unpaid internships are illegal
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With the government and non-profits, they are legal, although rarely ethical. But for-profit companies are never willing to employ the rigor necessary to keep the internship within legal boundaries.
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For-profits are legally required to conduct an internship in a manner that effectively impedes efficiency and hampers productivity. If faced with the choice of handling the internship legally and not having internships, they would choose the latter.
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But the companies cannot be busted unless the exploited intern complains. It's effective extortion: Let yourself be a victim of wage theft, or kiss a career in this field goodbye. The colleges see the situation as free money for them, so they're not going to object.
End of conversation
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