Eliminating student loan debt would foster the cost onto the government

Eliminating student loan debt would be a complicated process. For one thing, debt just can't be wiped away nor can the government just create money to circumvent any fall out. To truly eliminate it and keep student loan debt eliminated would cause many problems, both for schools and the government. The cost of running all these schools numbers in the trillions and countries don't just have this money in reserve to hand out. Most countries have their own debt they have yet to pay off. The US is a great example of this, their own debt numbering as high as 1.5 trillion. The US hasn't been debt free since 1835.^[1][2] Removing that debt places the burden on the loan companies and the government which would in turn cause a steep rise in taxes and an extreme decrease in the quality of learning. The money has to come from somewhere and it's most likely many of the smaller colleges would have to close down from a lack of funding. To place all the burden of the cost of schooling onto the federal government is just not feasible.^[3] The student loan system was put into place because it was needed to balance out the cost of attending into something affordable. While a ten year payment plan doesn't sound like fun, and isn't, it's much better than the alternative where that payment plan is then turned into a yearly governmental tax that everyone pays until they're dead.