That comment is a concise and literal description of what the North American college/university experience has been for decades now, if not much longer.
It does cost a relatively large sum of money to attend college/university in North America. Student loans, scholarships/bursaries, tax shelters like RESPs, and government subsidies wouldn't be so necessary and so prevalent if college/university was something that most students could easily afford.
Regurgitating information is literally the core of the North American college/university experience. The students attend class to hear what the professor/lecturer wants them to hear. The students then do assignments and mid-term exams to practice regurgitating that information. The students finish it off with a final exam that once again involves regurgitating that information yet again. Any student who puts in independent thought, or who doesn't repeat what they were told, will not do well.
As for a "citation", pretty much anyone who has gone to college/university in North America will know just how true that comment is.
Ask any current college student whether they think the content of their courses are actually worth the cost, or if they're just there to get the piece of paper at the end.
In my anecdotal experience, I would say about 25% of my courses are actually worthwhile and not total busywork. Even then, all of the information is readily available online anyway
Honestly, its hard to not see college like an obstacle course at times. Just arbitrary requirements with little relation to the real world you gotta complete just to show to employers that you could.
