The honorific would've probably been "my Chancellor" if it had been about his political authority
In his case it was very much meant as dictator.
There was debate after Hindenburg died and he took his powers with the plebiscite (as well as chancellor) about what his title should be. He didn't want to harken back to Kaiser per the previous Reich so they went with Fuhrer.
It had been used within the party before that but came into common usage as his title at that time.
The issue with this is that knowledge should be it's own reward. Where I live college costs a pittance. If you want to study fine art, that course should be available and is.
What you're suggesting sounds great in a very practical respect but would only further benefit capitalism at the cost of wider knowledge. Many of the things that are worth learning in life to so many would immediately disappear from college curriculums.
The goal should be to make third level education cheap enough that anyone can do it without crippling themselves financially.