Are you familiar with the HEROES act from 2003? This is specifically what Biden and his legal team were relying upon for their recent attempt at student loan forgiveness. SC isn’t going to throw them a bone and try to broadly interpret other laws to support their case, that’s the attorney’s job which is supposed to be done at the time of filing. The 1965 law is different, and gives the executive absolute authority to cancel student loan debt. Which is why Biden didn’t invoke it.
In terms of restructuring the court, yes it is a dangerous precedent, but the strategy here is to legitimately threaten it and get them to all of the sudden see reason, instead of having to follow through. This has been done successfully a few times throughout history in times when the court has overreached.
This is actually quite simple - Biden can use his power and influence to materially improve the lives of the financially enslaved student populace, and he is choosing not to. He will side with corporations every time, as he has done throughout his entire political career. Have you been paying attention?