"Good" universities (ie. public and private programs with either regional or national prestige) remain in demand. The issue is there are hundreds of no-name private and public programs that are becoming strapped of students.

It's hard to make a case to attend Western Illinois University or St Mary's College versus going to community college and transferring to your state flagship (eg. Grangier Guarantee [0] and TAG [1] respectively) or an Ivy or Ivy Tier (eg. NYU's CCTOP [2])

This is what TFA talks about as well.

[0] - https://grainger.illinois.edu/admissions/undergraduate/pathw...

[1] - https://admission.universityofcalifornia.edu/admission-requi...

[2] - https://www.nyu.edu/admissions/undergraduate-admissions/how-...