That's kind of BS. There is a very large meritocracy system built into our university system. If you're smart but dirt poor, you will likely have the vast majority of education subsidized by scholarships, grants, etc.Here's the problem in the most precise language possible.
There is no market for education. There is no 'commodity' of education. That it to say - every single person, child needs it equally. There is no kid who needs it more or less than another.
But because of how we conceive of ourselves, we create a market for it and let people buy better versions of it. What this does is instead of educating the citizenry, it further socioeconomically stratifies them. Now, because you have this two-tier structure of education, Billy Bob, to provide a chance at social mobility to his kid, not only has to work hard and teach his kid to do the same, but he has send him to a decent university that, thanks to the market system we made for it, costs minimum 20k a year. But then, in order to get in, he has to go to a private high school, and again, thanks to the institutional structure we've made out of it, now has to pay 15k a year for that.
You can get into arguments about scholarships and work programs for the less fortunate, but that isn't the point I'm making at all. The point is those opportunities exist because the system is flawed in the first place. You should not have a tiered system of education (or healthcare) if you want a more prosperous society. And that is precisely the problem, and through that problem, is where you get our crime rates, our incarceration rates, our violence, and crazies who want to blow everything up.
You remove the tiers of that social structure and flatten it out for all. That's step 1, which is what Finland did.
If Billy Bob is forced to fund his kid's education in its entirety, that's likely a function of Billy Bob making upper middle class money and his kid mustering a whopping 2.6 GPA in High School along with a 22 ACT score.
I like how you preempted me with a disclaimer, that those things are symbols of a broken system but your entire idea of education seems to be to shove the smartest kids with the dumbest morons into a one size fits all academic system all for the sake of equality. Even Soviet Union thought that was idiotic.