I understand sports attendance has been down, but there are still a lot of kids that want that part of college and you saying otherwise is between disingenuous and an entirely made up statement. Schools are still getting 70,000 plus routinely, if not more, and most of the numbers skewing stats downward are games against FCS schools. You are literally making up this entire argument. When your school rankings and reputation is dropping, you need to expand your applicant pool and give more reasons to attend a school, not less. Miami is simply not that elite of a school where it can say just come here and pay $60k a year for academics alone.
Aside from that, it is free marketing when the school is good at football and all over ESPN. There is a reason that the school changed its official logo from the University of Miami to the U when all of our guys were taking over the NFL.
Kids can pay less, get the same job prospects, and have that full experience. That is all I am saying. You also talk about crippling debt - paying $60k a year for Miami is a terrible way to avoid that for most and the $300 athletics fee is not moving the needle on that.