probably would have if they weren’t pressured into college as a fucking idiot teenager.

I think this is the key problem here. True, you should honor contracts, and there are many other systemic issues around the costs of higher education, but the way student loans work are really messed up and a lot of adults don't understand what's in those agreements, much less some "fucking idiot teenager." But the pressure has been so high for the past several decades about college degrees being necessary, people just think to get the degree first and figure things out later. Heck, I remember sitting through a presentation as a teenager about how going into debt for university is normal.

The student loan system (and higher education in general) needs to be fixed, but while people try to fix the broken system, why not try to make right the people who were hurt by that system?