The people MOST harmed are those who worked extra jobs to pay for college, parents who did without to save for their kids college, people who studied instead of partying, kids who took real subjects and got good jobs and were able to pay off their debt, and hard-working honest people who did all the right things who get taxed more and were provided lower, fewer, or possibly no loans at all because they did the RIGHT thing!
It’s pretty obvious they are openly punishing the responsible members of society to embolden the losers. Nothing about this is supposed to help people, but to push the USA further into communism and toward revolution.