Truth be told, we have myriad educational opportunities available online for an incredibly low cost- and in many cases for "free". With discipline, anyone can learn more on their computer from the comfort of their home (or a library, should they not have a computer or Internet access), than they can in many college classrooms. Just look at the model that the Khan Academy has put in place.
It would be very easy, much less costly and just as effective to curate lists of online learning by area of study interest and put the onus on the participant to ensure they spend their time effectively. Our government seems to always be looking backwards and it's very difficult to move forward while looking behind you.
Look, our student debt problem is horrible, but caused largely by government interference in that market and a lack of teaching young people and their families to make investments in education commensurate with the return they can reasonably expect on those investments. And the jobs situation for young people is also horrible, enhanced by Fed interference in the market.
However, the free community college idea is equally as horrible: It doesn't address the problems faced by youth in America, it certainly doesn't fix those problems and it creates many new problems in its wake.
Carol Roth is a CNBC Contributor, a 'recovering' investment banker and bestselling author of The Entrepreneur Equation. Follow her on Twitter: @