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Hey, cdcox, could there conceivably be a model like this?
Step 1. Take a college that has a healthy endowment.
Step 2. Lower tuition and ramp up the entry requirements a little more to get better ACT/SAT scores and other quality indicators.
Step 3. Repeat Step 2 as often as feasible until tuition is free, but the school is ultra, ultra-competitive.
Step 4. Because it's free, put the onus on graduates to contribute over the course of their life to keep the endowment up, which allows the free tuition.
If the school is free and only takes the most elite of the elite, presumably they'd be more successful on average, and presumably they'd be willing to keep the reputation of the school high by contributing heavily. Or maybe you even have them sign a contract when they arrive that they'll donate x percent of their income every year until retirement.
What do you think?
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