I don't follow the logic the author is using. Let's say we make all public colleges free for students. "Elite" schools will still exist, and top students will still target schools such as Ivy/MIT/Stanford/etc. One look at the people in executive offices or top political offices and you'll find a substantial portion are graduates from elite schools.
As an Australian who benefited from a great public college (or as we call it uni) if public schools were free and high quality what would motivate the demand for elite schools? Yes elite schools are still networking grounds. But wouldnt the hope be that if people who already came out of public schools weren't saddled with crippling debt, enough of them could pay it forward to the broader group than their own elite sc…
Quality of education alone is hard enough to control for. What’s stopping the for-profit elite schools from just raising the bar until public schools simply can’t keep up?