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 seems valid. I think at least part of the problem is culture. Millennials were taught that college is a necessary stepping stone to a superior job, which it was in previous generations, but not so much nowadays.