Well it is impossible to say that one system might work here, or we should adopt so-and-so's system, etc. because we live in an entirely different country. Everybody's been happy to hop on the Sweden-wagon (say that five times, try not to grin!) but what you probably don't realize is that Sweden has one of the highest rates of race-crime in the world. A good friend of mine who was Chinese, left his trip on the fourth day out of twenty-one because, in three different cities, he was assailed by racist remarks, seemingly by all classes, ages and beliefs - by his account, the racism was unavoidable. Not completely relevant, but it is necessary to realize the differences in societies in order to truly theorize the effects. Moving on...
I have to agree with BR, as somebody who has saved his entire life for my education, that a lot of those who are granted a free education don't seem to really appreciate it. Case in point - there was a pair of twins at my high school who had their Metis status, and as a result were not only guaranteed a post-secondary education, but they did not have to pay for it. Now, I would like to honestly say that I am not a racist person, but I cannot lie. It did make me frustrated to see the way that they conducted themselves. Did it make me angry to see this? No, just...frustrated, I suppose. I took a year off between high school and university, and I worked six days a week all year, and practiced for ~1600 hours for my audition. I am proud of what I did, but also frustrated/disappointed that some don't need to study or save to get into the exact institution as I.
Regarding the redistribution of wealth, I think that it is important to look at both sides. AF, NB I applaud your passion and clear investigation of your beliefs, but I feel that a happy medium must be struck.
Student loans: crippling, but possible.
The poor, saving their money: difficult, indeed...perhaps if we established programs to help those who are less fortunate pool their wealth for the betterment of their financial situation?
The poor, blowing the redistributed wealth: Well, I feel this is the trickiest water of them all (intentional fishing pun). I believe that if we were to redistribute some wealth, I think we would see a wide variety of results. Some would undoubtedly bank it, use it as a nest egg to ensure their fiscal security. On the other hand, there would likely be cases in which those who were given sums went out and blew them. Indeed, we would see cases all along the scale. Furthermore, we could discuss whether X results would be attributed to a certain type of poverty, i.e. financial immaturity etc.
That being said, it's tricky to determine any of those as truths and definite items, so let's just not!
J