[anemoiac]

The current system has existed for long enough that we can observe the results of its incentive structures. We can see that people continue to suffer from heavy student loan burdens which limit their ability to fully (and productively) participate in society, even well after they graduate (or don't) university. The incentives you allude to clearly haven't aligned social behavior away from this outcome, so why should we expect that to change?

Given this apparent reality, what we're considering isn't whether or not to risk negatively impacting the existing incentive structure - which isn't producing an optimal outcome to begin with, but whether or not to assuage the suffering of a significant number of student loan holders. Would you prefer taking a purely moral stand for "personal responsibility" if it meant preventing a measure that could help lots of people live fuller lives and contribute to society at a higher level?