what does this mean?

What is this 'creative faculty of delight" the writer speaks about?

I would say IMHO (as a writer and lifetime speaker of English) that it's poorly worded and pretty vague with these platitudes. In general, I think it's saying that good (and well-rounded) education gives an individual the faculty where life is enhanced and could lead to wisdom. With the increased creativity....it gives them (and the others around them) joy and perhaps with the acquired wisdom hints at attaining a nobility.

Furthermore, the person (student?) would need to have the basic raw material to begin with. That last sentence interpretation is purely a guess and others might interpret this differently.