> I agree, this is a horrible idea. The rate of students actually graduating in 4 years is already low, it will just go down as soon as students are attending for "free". There might be some minor improvement if there were a competitive process and only the students who gave a crap about their education would qualify. But this notion that every slacker has a "right" to attend and fart around for six years is a disaster. When I went to graduate school, anyone could tell, with a high degree of accuracy, which students were paying their own way and which were not. The ones paying for it were the ones who worked hard and tried to get something out of even the easy classes. The other just wasted everyone's time. A couple times I had to get one of the latter removed from my team projects since they weren't worth anything.
I think its a self correcting problem. I am assuming that the tax is going to the selected University, not some general fund. Universities have limited space, they would compete for the corp of students who would have the highest income to generate the highest return for education. Kids that want to fart around for 4 years would actually have a tougher time, since their income prospects are going to be rather limited.
This might actually align the schools interests with the students ability to graduate and get a job that justifies the costs of going to school, who knows, maybe the kids would learn something useful. Right now that decision is entirely in the hands of an 18 year old who is taking on a financial burden of an amount of they have absolutely no way of comprehending.
My costs of education were roughly 1.5% of my income for 10 years (woot woot Computer Science), so it would have been an overall crappier deal for me. But when I was graduating at 2003 a 40k loan seemed like an insane amount of money to me, had I just been on the hook for a 3% of my income I would have probably tried to start my own company or joined a barebones startup instead of getting a job (which has been awesome for the last 10 years).