How would this be different to students not paying their loans?

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Wouldn't be. Burn it all.

Pretty sure all student debt has been nationalized by the govt, but I support people not paying back student debt. No natural market would have made most of those loans in the first place, the university system is mostly a scam. People being scammed shoildn't have to work for years or decades to pay for it. Unfortunately it won't hurt the universities the way it should.