Well, no matter how you feel about the policy of affirmative action, the phrase "equal protection of the laws" either means something or it doesn't. The Supreme Court decided to interpret this case based on the plain meaning of the text.
There are plenty of ways the government, and we as citizens, can help underprivileged students, but ignoring the Constitution and especially an amendment that many Americans died to enable the passage of, shouldn't be the way we attempt to reconcile inequalities. It's a lazy shortcut.