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 The investment is the education and networking you get from the university. The return comes from using that education and network to produce higher valued goods and services

You can’t get a refund for the same reason you can’t get a refund on a sandwich you completely ate 
 I guess you didn't attend comedy school. 
 Can’t say I did as you can tell ;) 
 Might’ve been useful once upon a time, but:

1. Education and knowledge is free online 
2. Networking can be done outside the confines of a college campus (and arguably better, since you’re networking with actual businessmen, not classmates). 
 It is still useful unless you’re taking 6 figure loans to study gender theory. Maybe for some careers you can make do with the internet self directed learning. 

Can’t become a doctor online

Networking at an ivy league campus > networking at your local community college