Financial aid is not available to illegal immigrants. The best they can get in some states is the in-state tuition rate for their home state.
And under current law, they cannot use their degree to get any kind of job in the USA that would use that degree. They would still be standing outside Home Depot looking for day labor work.
However, they would be able to do very well in their parent's country with a US degree.
This is the one area where a kid can be punished for a crime committed by their parents.