The presumption that there is a decision making process requires a whole lot of privilege. There are a lot of kids who don't have any option -- don't go to school, even with a scholarship, or take out loans you can't afford. Add in the fact that the decision is being made by a 18 year old, and it's unconscionable. Also, there's a difference between handing out a check and forgiving debts owed to the federal government. The "owed" loans aren't being refunded; the government just deletes the line from the balance sheet.