Everyone should go to college. By that I mean, everyone will have their life enriched by a well rounded education. And everyone else's life will be enriched when all of our neighbors are well educated. Not everyone *needs* to go to college, but everyone can benefit from further education, and in a civilized society we ought to be able to provide that to everyone.
Education, at every level, should be free, rigorous, and completely optional. This will prevent the watering down of education. Finance free education by taxing alumni who get high paying jobs. This will provide an incentive for a college to actually turn out good students who are worth a lot.