The average American student coming out of High School has very little chance of reaching their full potential without some form of financial assistance. The money used to help them through college is not a wasted investment. Their education will help bring the USA to the cutting edge of exploration and technology once again.
Not necessarily free money, but enough aid to get them to and through a college or university.
Not every college has to participate. The plan can be limited to select colleges that are willing to help students afford an education in exchange for something. Or businesses willing to sponsor a student in exchange for a certain amount of time of employment to the company.
Investing in the education of the people of USA is money well spent.
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