Not all, because there are plenty of people that will be or are able to pay the loans. Just like needs based college scholarships, there should be an limit to who can qualify to have there debt forgiven. Schools like Harvard offer free education for those that qualify and make less than $75,000 a year in income. This is the type of model that should be used for loan forgiveness. Also, for certain professions like teachers should qualify for debt forgiveness. But it can’t be for everyone that has college debt.