At worst, it produces graduates without the requisite skills needed to add to the overall knowledge of mankind yet brimming with the latest Utopian folderal meted out by the powers-that-be to preserve and enhance their powers.
From Kindergarten through Graduate School, defund it and sell the physical plants to the private market and use the windfall to rebuild our infrastructure.
A majority of our higher ed at this point should simply be online. Then community college. All privately funded.