from college graduates who can't or won't repay their loans. The suspension in loan payments is about to expire.

If the government wants to pay off loans for the benefit of students who can't/won't repay, I think Uncle Sam should get the money for this activity by seizing the endowments of colleges. Colleges created the problem, they can solve the problem. Asking a plumber or electrician to repay the loans of people with useless degrees strikes me as the fastest way to create contempt for colleges and college graduates possible. 

As it is, colleges/universities have funded some absurd "student life" projects - water parks, climbing walls, etc. Somewhere between when I graduated and now, someone decided that the best way to recruit applicants for colleges seems to have been to turn colleges into amusement parks.