The summary seems to be complaining about distinct phenomenon. There is a concern about the drinking partying crowd that breezes through easy courses in college without doing any work and then there is a concern about the parttime students who are working fulltime and trying to get by.
I work at CUNY, on a campus where most students work full time and very few graduate in five years. I think if some of those boozing rich kids met my students (who are adults with kids themselves) they might get a bit of a wake up call.
Employers know what colleges and what majors really train students and generally math majors are reasonably respected and can get jobs. Companies don't hire the psych majors from Party U and those kids parents just wasted their money.
Our students get jobs when they graduate, often promotions at their current jobs, promotions they were seeking when they went to college in the first place. But it would have been better if someone helped them get their education and covered their tuition because they're the ones who deserve it. Giving them some sort of minority scholarship to go to Party U wouldn't actually give them as good an education as they get here, yet they are often tempted away.