Just look at the NYT article on a student with $100,000 debt from attending NYU; you had to go down 30+ paragraphs, to the 3rd from the last, to find out her major was in womens and religious study. An honest, non-political article would have brought that out earlier and as something more than an aside.
How that would play out with STEM majors ... I'm not sure. Starting in the '80s there's been an strong push on the supply side which we can see reflected in flattish salaries, so more subsidization instead of (or in addition to) more H-1B etc. visas might be an outcome. But I wouldn't want to bet on it.
Or take the worse fevered nightmares of the Left, would a President Palin mandate that all biology departments teach Intelligent Design instead of evolution? He who pays the piper picks the tune....