"This new phase, with roots in the 1980s involves the growth of the educated underclass, the privatization of public higher ed, the growth of online program managers (OPMs) working for name brand schools, for-profit and non-profit subprime colleges, roboscolleges, and the fall of the US federal student loan program."
https://higheredinquirer.blogspot.com/2021/07/academic-capitalism-and-next-phase-of.html