A few years ago, I read that at least two big-name U.S. universities announced plans to pilot something like this, where tuition was free, and they'd get a fixe

A few years ago, I read that at least two big-name U.S. universities announced plans to pilot something like this, where tuition was free, and they'd get a fixed percentage of employment income (wages plus bonus, etc.) for a fixed number of years after graduation. The university takes on the risk, but they have much more information about their students and their degree programs than students, governments, or private lenders, so they're probably best placed to be making informed risk decisions. Under the current systems, the government and the student take on the risk, while the university and the private lenders get the rewards.