Paying for college

First, it would be means-tested.  No assistance would be offered to families who don't need it, and for those eligible for assistance, the amount would be based on the level of need.   Families at the poverty level would receive the greatest assistance and the amount would decrease as the family income level increases until hitting the "wealthy"cutoff of no assistance.

Second, assistance would be based on the residual need AFTER taking into account scholarships or grants, if any, that the student receives from other sources.  There is no need to dismantle the private or philanthropic sources of funding that presently exist because these are not loans and do not saddle the student with debt.

Third, beyond the base level of aid, there would be an extra incentive (adjustment) of assistance to students who are studying in fields where the nation has a critical need for graduates - primarily the sciences, technology, engineering, math, healthcare, etc.

Fourth, the funds would be paid directly to the schools for tuition, lab fees, books, school supplies, campus housing and campus meals.  Campus-wide internet would be free.  Other expenses would be the responsibility of the student/family at all levels of assistance, unless an absolutely insurmountable hardship exists.

Fifth, students would be incentivized to complete their first 2 years of general education at a junior college if possible.

Sixth, students receiving assistance would be expected to pay back 50% of the total amount received, interest-free, based on some non-punitive percentage of their income.  However, I would also establish a variety of ways that even this 50% obligation, or a portion of it, could be forgiven.  For instance, 10% forgiven for each year of military service, or for service in education, law enforcement or other social services. 

Seventh, I would also incentivize employers to offer repayment as an employee benefit that would be prorated for each year of employment.

Eighth, I would incentivize parents of young children to use educational savings accounts.

People are running around yammering about "free college education" when there is neither any reason nor do we have the money to make college education FREE.  If we make college education EASILY AFFORDABLE, if we continue to use the private sources of funds such as scholarships that are available, if we encourage students to major in critical areas of need, if we forgive 50% of the assistance received immediately upon graduation and then provide ways that the remainder can either be easily repaid based on ability, or forgiven in exchange for good that the nation receives from certain services, and if we incentivize employers to repay the student's obligation - that is a lot, and it is ENOUGH, because even this will cost plenty.