How do you propose they do college admissions then?
For some highly competitive fields, like medicine or law, an entrance exam is implemented. This isn't a comprehensive test like the SAT or ACT, it's specific to the field of study.
People like us are blessed to not have to hustle to earn since we are 18 yos.
But I have seen, first hand, people dropping out of really good opportunities when they have the smallest chance to earn an income.
If you want to study Physics, CS, etc., then, this will not possibly work.
Unless we make papers common to multiple majors.