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I lived that exact experience and chose not to take the debt. I honestly have very little sympathy for this cause. Anyone with a degree can get a job way better paying than someone without a degree (me) so I'm not really sure why your friends chose to take what they did. I'm super fucking bitter to see this gaining traction to be honest.
Why should people who chose to study something specific and then not get that job get to have everything paid for them? Are you saying that no one with a degree can get any kind of job that pays more than $25/hr? I'm not talking about some McDonald's janitor bs, but some management position, or some kind of office work that requires a degree. It pays way more than the shit work people without a degree are limited to unless you're in a union/trade.
Source: I'm living it.
I'm making $31 an hr plus per diem with just a professional cert. I'm not even all that good at what I do. This is no humblebrag. Every college grad should be making more than me. Nobody anywhere should be making any less. It ain't right.