I agree that private entities often overstate benefits and understate costs. Big difference though is its typically a lot easier for the general population to opt out of private cost/benefit mistakes than it is when government makes that mistake.
I don’t think the reason for the bad track record is because people don’t complain about the successes. I think its because there is a bad track record (for the reasons you note). The new highway that eased congestion likely opened a year or more late and 10-20% over budget.
I agree that the system you have proposed here is more likely to work than the “as we have it now, but free” approach. Maybe I have missed it but I do not recall seeing anyone proposing ending the building boom on-going on public college campuses across the country, selling off dorms, moving students to apartments 5 miles off campus and busing them to campus, etc. Without those changes (as I believe you agree), costs of college will continue to spiral upward with 100% publicly funded college.
What systematic changes do you think are needed to preserve the value in a college degree? How much overlap is there in terms of changes needed to control the costs of college?
If by “everyone” in Everyone has pension issues you mean all states, that isn’t true to the same degree. If you mean private entities as well as state governments, that isn’t really true at all. 401(k)s are much more popular now in the private sector. But no matter who has or doesn’t have pension issues, states like Illinois will have more issues paying for its portion of 100% publicly funded college because of unfunded pension liabilities than will a state with better funded public pensions.
I agree that few people want to talk about the unpleasant details of paying for a free college system. Not unique to college. Some of it is because there is a lack of understanding of the underlying issues. Lots of unintended consequences. Two, a lot of people would rather ignore the issues.