Solutions:
- Affordable tertiary education
- Curbing "educational inflation"
- Diversification of educational institutions
- Diversification of the economy
- Strong welfare state
It's not just about that though, is it. There are four problems main here, all of which are endogenous to one another:
1) There's an attainment gap. Of course, there are SE (I'm just going to abbreviate "socioeconomic" to SE from now on) reasons for this, which can be solved with some of what you're suggesting.
2) There's an admissions gap. AA is aimed at solving this problem.
3) There's an expectations gap. This means that women, minorities, and those of low SESs don't even apply for university, because they don't believe they can get in. AA is aimed at solving this as well.
4) Then there is straight up racism, sexism, homophobia etc. AA tries to address this artificially at first, and then hopefully through the demonstration that blacks, women, gays, etc are actually capable of studying in universities, in workplaces, etc.
So what you're suggesting will go a long way towards addressing (1), will go some way towards addressing (2), and may even address (3) and possibly (4) (though honestly, 4 will go away by itself if we're willing to wait long enough). But here's where what I've been saying about the minimum wage kicks in. Even the easiest and cheapest of what you're suggesting will cost a crapload of money. It will take a generation of consistent, sustained spending and hard graft to even make an impact on problem (1). It will have to survive changes in government, changes in taxation, changes in the economy, the spending cuts and austerity imposed during cyclical downturns, changes in public attitude, and so on. The vast majority of black people currently alive would not benefit from more money spent on education, so the criticism that AA benefits only a small minority would still apply here. We
know that all of our existing policies on tackling poverty are grossly inadequate -- otherwise, there would be no more poverty, or at the very least, people of low SESs would be equally represented in universities, employment, etc. And even if it did all work perfectly, we're still only focussing on the first two really: there's no guarantee that it will feed through to problems (3) and (4), and if it did, it would take several generations to even see the effect.
AA is a shortcut to equality in attainment, just like the minimum wage is a shortcut to equality of income. If people put aside the fact that we're doing this based on "race", which is just as arbitrary and uncontrollable as being born into a poor household, then I'm sure more people would see it the way I do.