Currently they don't care if their students graduate from their programs completely unemployable.

College Professor of Huamnities here. It's been the subject of cheap humor for years to equate a large and growing set of college majors with "unemployable." In the ever changing monthly flavor of this popular game, I think "English Major" is giving way to "Political Science" major (at least Jon Stewart took a recent potshot at the latter). I agree with you that colleges should have some stake in the inexcusable industry of easy loan lending to students. Most schools even have an office in which smiling university staff make the process seem so easy and agreeable that students often have no idea what they're getting into and never once hear a dissenting voice or face the slightest obstacle in getting $10,000 at a time. On the way out the door, they're encouraged by posters and pamphlets to come back for more. But I take issue with the idea that colleges must "care" if their students are employable, whether you mean by "colleges" the professors and their individual departments or the administrative superstructure that has already (and sadly, I think) been taking more and more power away from the educators. If curriculum decisions, for example, were governed by post-graduation earning-power alone, or even a little, then you would quickly see the devolution of entire disciplines into instruments of the market, no more stable than stocks. Industry specific majors (Architecture, Biochemical Engineering) wouldn't change much, but the English major would be faced with only a choice of "Online Publishing" or "Digital Editing." My emphasis falls on "only." The second curriculum is monetized by market forces, we lose the independent critical perspective and the repository of tradition that it is the founding and primary duty of academia to conserve.
Instead, I suggest that faculty take initiative away from administrators, who are tacitly complicit with the loan crisis in so far as they are happy to take any student money, from their loans, their parents, or their horrible night-shift jobs, and who would be happy, believe me, to have any excuse to slash "unemployable" majors (whose graduates will never be able to donate to the school). The faculty are actually, usually, uniquely willing to discourage students from their majors. Honestly, we don't want you here for the wrong reasons, but we have little say in the matter of major selection. In fact it's already the rhetoric of most college administrators that ALL majors of X school will be imminently employable and lucrative, which is obviously a lie. But a very salable lie. English and Political Science Majors should be made to understand what they're getting into, and be secure in their reasons before they devote themselves to a discipline for its own sake. Make academia answerable to the future job market and students will only be chaining themselves to an even more uncertain destiny.