Student Loan debt needs to be wiped out (eventually). It's existence is designed to cripple the younger population and make them feel like the debt slaves they are. It prevents them from buying homes, having families, etc.

The high cost of education, and the encouragement to get a "college education," in addition to the indoctrination of communist ideology, was designed specifically for the purposes of reducing the population (Malthusian agenda), and to ensure all those who "want to succeed" are hampered in that effort through a decade of "putting off buying a home" to pay off the debt.

Having said that, this was obviously not the way. The People need to see the debt for what it is, slavery to the Banks. Wiping it out in this manner would have prevented the reveal that must come. "It's got to hurt for it to heal." Once people really see that "debt" is not a proper way to run a society, then, and only then, can we tell the Banks (and the Banksters that run them) to fuck off and die, once and for all time.