There already is tons of that. The issue is the "full range of schools" part. You can be from a family with a 400 credit score and combined income of $45k, and

There already is tons of that. The issue is the "full range of schools" part. You can be from a family with a 400 credit score and combined income of $45k, and get loans to go to a $50k/yr university. If the government is going to step in and provide direct funding, it will almost certainly only apply towards community colleges followed by local state schools.