I really don’t know what to do here. What bothers me is that there might be some sort of “forgiveness” (which I believe to be an OUTRAGEOUS idea), and then loans tightened up a lot without any corresponding price drop in education (have you ever seen the price go DOWN on anything that is not a piece of consumer electronics). This would effectively “pull up the ladder” for others.
You are assuming that college is absolutely essential - it’s not. And if you do want your kid to go to college, there are a lot of choices - you can even go to college online now. There’s also the military services and service academies.
Also, don’t forget - you don’t owe your kid a college education. If they want it, they’ll find a way to get it.