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I think it's hard to say whether state-subsidized college educations would be worse or better vs. the status quo.

It would move the cost burden from the students (who are already having 20% of their career years stolen from them) to the elites who push for these policies. That would make the elites less enthusiastic and be a little more fair to the students.

On the other hand there would be more students wasting 4 precious years of their lives.

Probably after a decade or two we'd end up with something like what Europe has - "free" (tax-paid) education, but only for a tiny minority of excellent students. Nothing for the rest.

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