Create a non-profit entity or government program to allow people to refinance their student loans, including private loans, at the current historically low interest rate (0.25 %) that is available to banks but not to regular Americans.
This will stimulate the economy by putting more money in the pockets of hard working Americans with high student loan balances. With this program, America wins; only the bailed-out banks have something to lose.
Forgiving all student loan debt might not be realistic, but this is. Why should the bailed-out banks pay such low interest rates on money they borrow from the Federal Reserve, while American workers are forced to pay 5-10% on educational loans?