The universities raised that money to further the cause of higher education by paying for buildings and stuff, paying for endowed faculty chairs, granting scholarships, etc. They produced some students who say they can’t get a job that allows them to repay the loan, so this would be like a retro-scholarship. Or consider it a sort of warranty - you pay up front to get your overpriced degree and if you can’t pay it back, we’ll give you a refund.
The universities with big endowments spend a huge amount on scholarships and other financial aid.
It isn't money that keeps people out of Harvard or Yale. I've known people of very limited means who got pretty much a free ride to Harvard.
This is just Tucker playing the resentment game.