As readers of this blog are likely to know, UC has followed such a policy. Excerpt:
Last month, the Board of Regents of the State of Iowa, which oversees the University of Iowa, Iowa State University, and the University of Northern Iowa, eliminated their policy of earmarking 20 percent of in-state tuition revenue for financial aid purposes...
...(I)t’s easy to see why so many families think they are paying for other students: many colleges and universities say explicitly that they take money from some students to fund others. The University of California and California State University systems agree to set aside about a third of the new revenue they generate through tuition increases for financial aid purposes...
Full story at
http://www.insidehighered.com/news/2012/11/05/use-public-tuition-financial-aid-likely-become-political-issue-many-states
It appears that those who are being recycled from are beginning to have a new anthem:
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