Here's another one of those wild ideas for fixing the public education system:
Let's phase it out over the next thirty years, replaced with educational income contracts. These entitle whatever educational institutions you went to a percentage of your income - let's say 1% for every four years, although this value should be flexible. So after sixteen years of education - a Bachelor's degree - you're giving away 4% of your income.
Or you could take eight years of basic education and a four year apprenticeship, and you'd be down 3%.
Hell fucking yes, apprenticeship. And people will be lining up for the job of taking on students; shit, that's a functional retirement system, right there. And it compounds; when they take on their own apprentices, that contributes to their income, which remember, you're getting a part of. It's a pyramid scheme that leaves everybody smarter.
Schools would reform - not only do they want to attract the best students, they want students getting out to make as much money as possible, which means training them in in-demand professions.
I... cannot actually think of a problem the system would need to address. Degrees and master's marks could be turned down by a student who doesn't think their college or master has done an adequate job, after all.