It creates:

• Statistically, a constantly desperate hand-to-mouth workforce that must depend on employers to sustain their existence.
• Armed forces signup incentives.
• Easily-swayed consumers of products and services. (Run by those with access to nepotism and/or education, naturally.)
• And easily manipulated voters.

Underfunding education and having people basically born into debt isn’t a neglectful oversight, it’s a deliberate strategy.