The real problem here is that the colleges responsible for high tuitions (thus high debt for graduates) and useless degrees are not held responsible for the outcomes of the educations they confer. Because the government guarantees many of these loans for students, we're effectively handing out money to anybody who asks for it -- at the expense of a potential entire life spent in debt if you choose poorly or even sub-optimally.
It's hard to be glad that these people are suffering under high debt loads when you realize that we will all be affected. When they retire with no savings and pull money from the system funded by taxes on your income and investments, you will likely not be happy. No man is an island and all of us are affected by macro-trends like this.