I think a hundred years from now (if the earth hasn't incinerated by then) the system of getting higher education will be described almost as another Dark Age (in the US.). Young people literally mortgage their futures. They become virtual indentured servants even before graduation, paying off loans sometimes into retirement.

The U.S. Congress has made it extremely difficult to discharge student debt even in bankruptcy. And yet, higher education is seen as the path to social mobility. So, students are left to choose between giving up the ambition to climb the economic ladder, or a lifetime of debt.

As for application fees. Most colleges/universities participate in what is called the Common App. Students who are on public assistance, live in public housing or qualify for free lunch programs (in other words, students whose families have incomes under a certain level) could have the App fee waived. Most reputable schools I think use the Common App. All the Ivies do.