The colleges themselves should provide and guarantee the loans. If their students can't find jobs to pay back the loans, that's on them.
A very fine proposal. Given the massive endowment of many elite universities, they can fund their own....
And given the states' involvement in state systems, they can fund theirs.
A clean separation between responsibilities. Harvard and the other ivy leagues and states like California and New York would be mightly irritated. It would be jolly good fun to watch!
The phrase -- loan forgiveness as trotted out by the likes of the Biden-Harris regime -- would disappear from the news headlines overnight.