There's a lot to be said for community college transfers, testing out of credits etc from a purchaser perspective. While that can help individual students I don't think it addresses larger problems about rising costs in the academic sector and the fact that high costs make planning and attending colleges a high cost, moderate risk proposition.

For instance, an ideal college system would reduce need for corporations to request h1b visas

The level of bureacracy (both for students and institutions) required to maintain so many grant and voucher systems including secondary bureacratic patchworks like H1b visas could all be drastically reduced by subsidizing college tuiton prices across the board to the point where college costs were less of a financial burden.

One might argue that eliminating tuition costs entirely would pay for itself in reduced bureacratic burden across the government and would make it easier for corporations to retrain employees rather than importing them.