It's really quite sad to see people think this is a 'great' idea in a world where the US literacy rates are falling rapidly and people graduate out of highschool barely able to function. Slashing both the bottom and top end of education aid isn't going to suddenly make things financially viable or improve education; it's just going to further narrow education and turn college into Highschool 2 which it slowly is already becoming.

If you wanted to tackle the problems of education you'd start by improving our failing highschools and then ensuring higher education is free and easily accessible so that the earnings gulf isn't as wide.