Boingboing adds some trenchant observations on this:

[T]his is effectively permanent exile. Once you stop paying your student loan, your lenders get to add penalties and compound interest on the penalties, then add more penalties and compound even more interest. Walk away from those debts and they will balloon to the point where you can never pay them back -- and since student debt is the only debt you can't effectively escape through bankruptcy (it's also the only debt that can be taken out of your Social Security), turning your back on student debt means never reestablishing residence or holding assets in the US or any country that could be reached through a treaty arrangement.

https://boingboing.net/2019/05/27/educative-extractavism.htm...

Also, Elisabeth Warren's proposal for a student loan debt jubilee:

https://boingboing.net/2019/04/22/scholars-jubilee.html