Another unintended consequence I could see is this could be a lead up to a debt crisis by the US government. Right now we are running 1 trillion budget deficits. If people can start discharging student loans then that will be a loss of revenue for the federal government so unless there is an equal amount of budget cuts then this will most likely result in the budget deficit increasing. If creditors get worried it could spook the debt markets. US debt won't be viewed as "safest" in the world....then starts the chain reaction series of events.
I also like to think back to what Peter Thiel says about higher education. It could be something similar to the 2008 housing crisis....where people were borrowing money to buy overvalued housing. Higher education to a certain extent could be people are borrowing large sums of money to get degrees that don't hold much value in the market place....so it becomes impossible for these people to ever repay the loans....overvalued assets and leverage spells bubble. I know people who borrowed 100k+ to get a degree in sociology only to realize after the fact that sociology is a worthless major. They then went back to spend another 100k to get a degree in nursing to finally become gainfully employed.