This would save young Americans from going into crippling debt, but it would also make a university degree completely unaffordable for most. However, in the age of the Internet, that doesn’t mean they couldn’t get an education.
Consider the long term impact of this. There are a lot of different ways such a situation could go, for better and for worse.
That’s the wrong question. Just nationalize higher education and subsidize or make it free, at least to the point the we’re producing enough engineers, medical doctors, scientists, artists, and etcetera every year.