Nope. Obamacare gave government a monopoly on student loans. All restraint on loan limits went out the window. Obama is guilty of creating this problem. Biden’s loan forgiveness promises made it worse. The cure is to ruin the credit rating of people who default on student loan payments.
Credit scores I find are now “dumbed down” as in they are wildly inflated. Even the popular “Credit Karma” app advertises that you can “beat the system” when applying for apartments, which is frightening as a landlord in a BLUE state with very few private property rights left and quickly eroding.
That being said, I would say at least 60% of the under 40 set have a credit score below 600. Most usually in the 400-550 arena which is shocking! I believe they have been taught that everything should be free and is a human right.
I see the genius in ruining the credit of borrowers who default. That way you can ensure they will never be able to buy houses and thus do far more long term damage to the economy. Brilliant!