I don’t understand why there isn’t something more of a middle path discussed. Limit the amount of interest that can earned by creditors maybe. I do find it unethical and strange that we allow 18-year-olds to take out crippling debts, and I find it predatory that anyone can profit off of this.
However, canceling all the debt messages a big “screw you” to anyone who made the sober decision of not going to a more expensive school (or not going at all). Sorry to say, I think it’s unfair given this is the system we have and we can’t go back in time and undo poor decisions.