Yes, the college-industrial complex is a scam, because there is no limit to skyrocketing tuition costs. With the government giving students unlimited loans, there is no reason for schools to lower their tuition. People who choose to take out loans become servants to the colleges, who just use the money to pay professors unreasonable salaries.
So many people go through the college-industrial complex, in hopes of getting a better job, however most often the degrees earned and the skills learned are unnecessary for the jobs that the graduates will go on to pursue. For example, in engineering, there are necessary skills and knowledge, probably best learned in school. However on the other side, history does little good in the job market, and degrees are pushed as "in-demand" although they are not in-demand. When you include business degrees, you realize that most of business requires no degree really, or rather none of the skills or knowledge attained in business school are useful in the workplace. Higher education is mostly a scam.