The biggest problem I have is if a kid who has legitimately worked their ass off to get accepted and they get booted and the other kid is put in their place. If their family is making 7 or 8 figure donations, open another spot for them. The bigger issue in the country is what Rawr brought up, student loans.
Student loans are wild and need some kind of overhaul. I just do not know what other than lowering the interest rate which I think will only make a small impact or emphasize paying the principle while still in school. I was fortunate enough to be able to pay mine off quickly but I'm sure I am in the minority. Some of the payment plans people are on do not make sense, as in they will never pay them off. I've seen people with $100k in loans paying $200mo, it just doesn't make sense. Most people are on 10 year repayment plans though, if they make their payments. The biggest problem is people don't give a shit about paying them until it prevents them from buying a house, car, etc.