First, an educated populous brings the entire economy up. It creates new markets, new fields and industries, and more opportunities for everyone. It also takes a large chuck of the workforce into offices, labs, and around the world instead of competing with you for your machining job at the factory, which would devalue your role and result in lowering your wage, if you got the job at all.
Second, the only reason for the massive amounts of student debt is due to universities massively inflating the cost of an education to milk the government of their federal student loans. This doesn’t address that directly, but it applies pressure on the government to reign in these bloated tuition and book costs that universities are pushing.
Third, if we’re so afraid Joe the Plumber and the rest of the Working Class might have to help his fellow man with 3 cents of his annual tax rate, then increase the tax on the wealthy controlling class to cover it instead. The same tax bill will mean waaaaay less to them.
Edit: for clarification, that was a rebuttal to Graham’s comment, not yours, OP