A major issue I feel has been a proliferation of lower quality programs charging a premium price as well.

It's become harder to vet undergrads in the US for specific subfields because of either a lack of preparation or subpar career services.

Additonally, at least in CS/CE the number of candidates have skyrocketed, but the reality is most companies can limit new grad hiring to 10-20 target programs nationally and 2-3 local programs and get the talent pipeline they need.