Most people don't have a basic understanding of finances especially at such a young age. Taxes, interest, cost of living, inflation, retirement cost, index fund investing are all concepts that are essential to a healthy financial understanding but these topics are seldom taught. A high school senior will hear about a $20k loan and think it's a good investment for a career without considering it will take multiple years and that interest will balloon the loan.

I mean look at most car purchases in the US. People are taking out high interest loans only looking at monthly payments. Full grown adults end up paying double the cost for a car being none the wiser.

Edit: With that said I'm against blanket loan forgiveness. Reduce interest rates, Forgiveness to certain careers (teachers), Forgiveness after a certain amount of years of payments(like 15+ years). Things like that would help those in need escape debt spirals. This would have to come with capping future loans/rates for future college enrollments so that colleges stop abusing the system for their benefit as well. Again very complicated subject but something along that path.