The real solution is to do several things - 1) Loans should be able to be voided by bankruptcy - unlike at present. 2) Schools should be forced to guarantee the loan, and they get stuck with the tab if the student ends up defaulting on the loan.
At present, schools can do lots of false advertizing about how lucrative the field is, how well paying the jobs are...and students go way into debt getting the education, then they can't get a good paying job to pay the loan off ...and they are stuck forever with a loan. But if schools had to guarantee the loan - they would think twice/three times before extending a loan to an otherwise marginally qualified student, or for a student getting an education in a field that WON'T really pay the bills. Schools might start focusing on educating for better paying jobs (engineering, medical/nursing, etc.) - and de-emphasize the 'underwater basket weaving' degrees in the various politically correct fields where there really are not good jobs.