We do see this in Switzerland, Finland, etc. But this is due to a competent Department of Education, which simply doesn't exist in the UK. Infact the UK DoE isn't even just incompetent - it is quite clearly maliciously sabotaging education, there is no other logical conclusion for the farcical policies that are in use.
Or you have state-run education as another competitor. Or you can have the state sponsor promising but poor students. You can even incentivise private enterprises to give bursaries to promising but poor students.