Yeah agree 100%. One of the best investments you can make is a college education in terms of ROI even today. 

With the expansion of cheap debt and the insistence that a 4 year education is necessary for almost any job tuition has skyrocketed. Colleges have expanded into massive bloated organizations. Two examples are the rate of administrators per student has increased dramatically with no none effect. Expensive specialized buildings are constructed - again with negligible effect. Universities will find ways to spend extra revenue - if there is free cheap student debt they will gobble it up. 

I think one tough pill to swallow is that not everyone is made better or happier by going to college. Colleges won't tell you that, and liberals see everyone as a blank slate that can be transformed into a computer scientist if we dump enough money on them. In reality, Universities should be competitive, effective and nondiscriminatory. If gov funded the main outcome should be social mobility. IE how many people can you effectively move up economic latters for the least amount of money per student.