Too bad, so sad. Now pay back those loans.
College tuition is example of complete mismatch between price paid and value received. Government backed student loans serve primarily to increase perpetually college tuition costs. Take away loan program and students still willing or able to pay would demand value. Leave loan program (and deferred repayment terms) in place, and demand for college degrees at any price continues.
And if that's not enuf of a dumpster fire, add in forgiveness of Government backed student loans used to buy worthless degrees and you've instead got equivalent of airplane in flight carrying burning lithium ion batteries - end well that will not.