Yeah, because the alternative is a permanently wrecked economy because college loan grads who don’t get jobs immediately out the gate are doomed to indentured servitude.
They’ll never acquire property, and they’ll never have a stake in society, instead becoming part of a permanent underclass.
Two ways to do this:
1) require a payment as some %age of income for 10-15 years, at which point the loans are forgiven. we are already inching towards this system.
2) make the loans dischargeable in bankruptcy, but require that the educational institution guarantee some portion of the loan. that would make schools much more cautious about who they admit and how much they load up bodes into useless * studies departments who will have higher default rates than programs which produce employable students.