I have to disagree with you all, at least with regard to loans for professional schools (law, business, med).
The way things are, all capable students can attend these schools without regard to their ability to pay, poorer and stronger students are offered scholarships financed by money from richer and weaker students, graduates get well-paid jobs and the ability to pay off their loans within years after graduation.
Remove student loans, tuition comes down, scholarship pool shrinks. Richest students benefit because they get to pay less. Poor students lose, because there’s less money available for need-based scholarships. The whole system becomes less equitable and produces less qualified professionals.
