"Let me clarify that excellence in college is expensive, even if tuition is waived, at least the way it's currently structured."
Not really.
"Tuition will be $51,196 for entering undergraduates and for others who arrived in fall 2015, 2014 and 2013, and $50,690 for those who entered in fall 2012, the email stated.
Room and board is set at $7,780 for a standard double room and $5,490 for a standard first-year meal plan, Mr. Murphy’s note stated."
http://www.post-gazette.com/news/education/2016/01/14/CMU-wi...
So $13,270 for living expenses, at the presumably inflated prices CMU is charging.
Over 4 years, comes to $202,760 for tuition, vs. $53,080 for living expenses.
Point being, with tuition hyper-inflation, costs to support yourself while studying are relatively much, much less expensive. The student-loan debt crisis would rapidly become a non-issue if tuition was free.