[nonethewiser]

> If we do nothing to change the system, what are new college applicants going to think? Either they'll have to pay back their loans and, compared to those who wend before, get totally screwed.

EDIT: I misread your comment. Please disregard.

They got screwed when they took the loan out, not when they pay it back. The terms never changed, people just realize they made a bad decision. Sometimes people argue they cant actually consent to the loan in which case we should just cease the loans immediately.

Part of the puzzle is rebuking this sort of logic: "Education is important. Having a bachelors degree is practically required. Therefor a loan is worth it." Without any qualifiers. This suggests the degree job prospects and loan amount don't matter. They do. If education is expensive enough, it's just not worth it.