Of course it does. The responsible thing is to only go to a college that you can afford.
Someone who received public loans to attend university and who spent 10, 20, or 25 years paying them off at which point the rest was cancelled isn't really irresponsible.
Aid should be merit-based. Both statistically and in my experience growing up at average and poor public schools <5% of the population is gifted and talented at the level where going to college would be a value gain for both them and society. Giving ~50% of youth a perverse incentive towards higher ed is obviously turning out to be destructive for both them and the institutions.