A person gains some $N in financial gains and personal fulfillment for going to college. Regardless if tuition comes from the individual or the taxpayers, the society as a whole is still paying some $M for a person to go to college. Society gains some additional $R through the person going to college.<p>I posit that for some individuals, sending that individual to college is beneficial to society (N + R &gt; M), and for others, it is not (N + R &lt;= M).<p>If the government decides everyone goes to college at its expense, then some individuals for whom college would not be socially beneficial will go to college. This will be a societal loss.<p>Alternatively, the government could try to figure our who would be beneficial to send to college, and pay only for them. This would maximize societal gain if done correctly. However, I for one would not trust the government to make this decision impartially or correctly.<p>But when the market decides who goes to college, it is up to each individual to decide whether or not college will be beneficial for them. Hopefully, informed individuals can make that decision correctly. (Of course, when an individual decides, they do not consider the societal benefit R, only the personal benefit N. This could be solved by a government subsidy worth R, either in a grant or in favorable interest rates on a loan.)<p>I do not see a reasonable way in which a controlled economy for higher education could maximize societal gains.