This argument is directionally equivalent to claiming that your parents making you do chores or contribute to the household is bad for you.

The reality is that college educated workers still make considerably more money, with less physical wear and tear.

The government is offering that support because was an incredibly effective lever to up skill the populace, and because people wanted it.

That may change, but at least for now it's still mostly true. Even if we both agree that the system as structured isn't ideal and can end up abusive in some forms.