Um, not directly actually. First, the payments are already sent to the university, they have their dosh already. And student loan debt isnt held by the government exactly, as far as I know, its held by private institutions, the government just facilitates as the middle man and also gives out some free grant money of its own. The real losers would be the jew loan sharks, excuse I mean "financial institutions," that gave out all the money in the first place based on the promise that the government would guarantee they'd get paid back several times over.
They would go belly up rapidly as something like a trillion dollars is never going to be paid back to them. They, in turn, would kvetch endlessly but assuming that got them nowhere, they'd simply stop lending to students. Okay, so then we hit the universities right?
Well, the thing is, universities are already ROLLING in money right now. The place I graduated from recently demolished their fully functioning, structurally sound student union and campus center building, to build an even bigger and flashier (but no more functional for its needed purpose) building in its place. And THATS from only a moderately sized university in the fucking south east, and that isnt even totally its own school, its a branch of a larger group of universities under one heading. That doesnt even count all the other luxuries. Free wifi everywhere, campus events, a god damn fully stocked and modern gym, their own baseketball arena and other assorted sports areas, and so on.
So what do they do instead of that? Simple, they'll cut back all that fluff bullshit. They'll gut and sell things like the gym, downsize the buildings, eliminate much of the funding for what they deem as "unnecessary expenses" in STEM departments, and so on. They'll reduce the cost of going there, so they can drop prices.
But it won't end there. Next they'll start hacking away at any non-profitable research done on campus, hack away at funding and teachers for smaller departments, and reduce the price of tuition a bit and expand the "X studies" and like departments, lower standards for entry to basically "anyone who can pay us," and slash salaries of professors which will drive out STEM and more useful professors who will simply go back to working at non-education places in their career field. Meanwhile the "X studies" teachers will remain and accept the pay cut, because its far more than they were making as slacktivists on twitter.
The end result will be a RISE in the amount of liberal bullshit in colleges, the indoctrination, the poor quality of education, and the meaninglessness of the degrees shat out by them.
No, you want to fix the problem? You stop using "income" as the basis of who you give loans to and how much you give them, and instead base it primarily on what field the student is going into. Obviously you don't give cheap loans out to rich kikes, so you'd still use income to an extent, but you would stop giving the same amount to a white male going into engineering that you do a black dyke going into "azfrakian TRUE herstory we wuz kangs and quanz studies" where the WM scored a 30 on his ACTs and the BD only managed to scribble her name at the top of the test followed by "DIS TEST BE RACISS" across the rest of it.
You do that, and schools will realize the free easy money is no longer there, and will stop catering to the libshits and the marxist degrees, and will start having higher standards, pushing more people into STEM, and so on. The next problem is of course ensuring they don't water down THOSE degrees to and turn them into bullshit where everyone passes. But I think you could add in an extra layer here where businesses rate universities they can show they've hired people from based on the quality of the work the employee does, and this rating be used to additionally limit funding for schools that end up with terrible ratings who are just handing out degrees to rake in free money. You'd need the education department to have oversight on this as well, to ensure the schools werent giving kickbacks to businesses who hire their diversity graduates and give them favorable ratings. Some sort of system that tracks the employees from a school, how long the business keeps them so they cant just hire the shitstains, rate the school, then fire tyrone with his pyramid and rims engineering degree, and have their rating still matter.
But none of this will happen in our life times.
