This will accelerate the decline of the university system and prevent any reform. Right now the value of a college degree is dropping like a rock, mostly because there is no longer any exclusivity to higher education. If everyone has a degree then there is inherently no added value to a person who has one. Universities may be able to survive in the age of the Internet if they're reserved for professional academics or hard science. In these days of Coursera and YouTube, you can teach yourself pretty much any skill for free. Or you can learn philosophy, history, or communication skills from a selection of podcasts. There's no doubt that student loan debt is a huge problem but the solution to that is not have someone else pay for school. You're just transferring the responsibility of a poor investment to another group of people. That's bad for society and it enables the poor structure of the university system. Many people believe strongly that very soon the university system will be obsolete altogether, and whatever replaces it will operate in conjunction with online information sources which means will basically be FREE! For real free, not just some one else pays for it. But if we want to see that dream come true the last thing we want to do is keep investing in the broken existing system. Our parents' idea that sending their kids to college equals immediate success is an outdated ideal and it's not because of debt. It's because a degree isn't worth much anymore.