The default would be to go to college and then immediately claim bankruptcy, sounds like a "radical" idea that would not end well

Corinthian Colleges defrauded students. That's the debt that Biden is cancelling today. Corinthian Colleges: https://en.wikipedia.org/wiki/Corinthian_Colleges

When people are defrauded financially, how should they be helped? Or should they at all?

What were the consequences for the higher-ups at Corinthian Colleges vs. the hundreds of thousands of students who were defrauded? What should those consequences be?