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They promote alignment of market needs and college degrees. When investors have a stake in post-college earnings, they can choose to “invest” in students who are planning to enter fields with high levels of job growth or earning potential (e.g. STEM fields, healthcare, etc).  As a result, students seeking investor-backed funding are incentivized to consider these fields.  While not making any judgment on the value of certain majors (or a liberal arts education in general), I’d argue that our economy benefits when we produce college graduates that can fill the human capital needs of the market.  Investors encouraging certain majors also doesn’t seem much different than a parent suggesting to a child that if she wants funding for college, she should probably add an economics major to her political science major, since political science majors are good for cocktail conversation but not much else, and we aren’t sending you to college just to party, after all. (Just… as an example.)