If you think the money can come from outside of the system (a new source specifically and only for this purpose) by all means it sounds great, people paying les

If you think the money can come from outside of the system (a new source specifically and only for this purpose) by all means it sounds great, people paying less for school, and people being able to treat studying as a job that brings food on the table seems great. I think treating the system as closed is more realistic though, and in that case it’s redistributive i.e. zero sum. Edit - of course something I was missing in this comment is possibly increased efficiency inside the system. It’s thinkable that higher average attendance would result in higher pass rates and lower educational costs. If that turns out to be a significant effect it might not be zero sum (though I’d personally still not favor such a system for reasons I mentioned in a different comment).