I am a big advocate of levelling up!
Re. Funding, I'd say that's another question that is a whole level of scrutiny we can apply to any policy mentioned. It's incredibly rare that there is a clear and undisputable funding source for any policy.
My general point is that the idea shouldn't be dismissed. I think it could be a great thing for young people.
Rest assured, this stuff happens. Schools now do fantastic trips to Africa and the like (and many other things!), building housing and forging cultural links. The problem is they are only open to the wealthy. I see no issue with opening up and formalising lots of training and community service for all young people. I think many would greatly benefit.