It’s a great idea, therefore it will never happen.
Something that has a better chance of happening and just as good is to remove the government guarantee on those loans.
For that to happen you need both houses of congress and the president to be conservative.
Yes, getting the gov't out of the lending business is the key. Either make the schools back 100% or at least part of the loans, or have banks or some other private lender. That way the lender has a stake in getting their money back & requiring the borrower get a real education leading to a profitable job.