Yes, but with loans and debt there is already a more apt mechanism for handling exactly the nonpayment case: interest rates. Student loan interest rates would go up with more nonpayment, making them less affordable, making school tuitions grow more slowly, and other knock-on effects based on straightforward supply/demand. (Remember, price just means "willingness to pay", and schools are optimizing tuition pricing and other costs of attendance for which these student loans are taken out based on their own Laffer curve.)
Whereas kicking someone when they are down (i.e. already can't pay) is cruel and unusual, I agree that making an example of willful nonpayment makes sense, but that shouldn't be done at the expense of taxpayers(/no need for police involvement). That's why wage garnishment and other tools already exist for lenders to use with a simple court order. If the government foots the bill of enforcement, rather than the lenders footing the bill of wage garnishment intervention and court costs, then it will get represented in taxes rather than loan interest rates, which privatizes the gains (loan payments) and publicizes the losses (enforcement costs). The other side effect is that it subverts supply/demand based pricing of education based on student loan interest rates, which props up higher education price inflation.