US government backed student loans were a huge mistake.

We needed something like rent control enforced on public universities, for government backed loans. But we didn't.

So it created a situation that caused an enormous amount of millennials to be taken advantage of by universities and colleges. Those universities and colleges pumped full of government loan cash became increasingly predatory. They increased their administrative costs, they increased their tuition costs, and they lured unsuspecting teenagers into taking enormous debt for worthless degrees like gender studies over engineering.

This has been a catastrophe, that will be used as a case study of unintended consequences.

The extreme amount of student loans has lead to extreme unrest, unless action is taken quickly it will only get worse. We see it in the rise of the alt-left and alt-right fueled by extreme fanatics in desperate and angry situations.