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I actually like this idea in theory. Except, it wouldn't allow for students to find flexible part-time work.

As an example, I was a university student in Canada ~15 years ago. I lived with my parents, driving 30 minutes each way to attend classes. I had car insurance, gas, a cell phone, tuition, parking and books to pay. Tuition was costing 6000$ a year over 5 years. Being in humanities, I chose my own course schedule. I would often have classes 8 a.m. to 2 p.m. Monday through Thursday. I would work nights and weekends 25-33.5 hours most weeks..Most part-time employment worked around student hours and allowed some flexibility. Once I graduated and had a full-time salary position, I had much more free time and struggled to not feel lonely in filling up that time.