Removing the obligation to repay federal student loans with interest rates attached to them would greatly reduce the cost of attending school in USA.
The money generated by interest rates on Federal Student Loans is pittance for the Federal Government but it's a lot of money for the student. It puts a major financial burden on the student and it causes the student to take much longer to fully repay the loans back. Not only that, but the interest rates are too high to begin with.
There is no need that a student should feel punished for receiving a higher education by repaying a loan from our own Federal Government with interest attached like a bunch of common loan sharks.